Question: Use the MROZ data for this exercise. (i) Using the 428 women who were in the workforce, estimate the return to education by OLS including

Use the MROZ data for this exercise.

(i) Using the 428 women who were in the workforce, estimate the return to education by OLS including exper, exper2

, nwifeinc, age, kidslt6, and kidsge6 as explanatory variables. Report your estimate on educ and its standard error.

(ii) Now, estimate the return to education by Heckit, where all exogenous variables show up in the second-stage regression. In other words, the regression is log(wage) on educ, exper, exper2

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