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Education Production Function

Education Production Function. A model. Theory. Output= f(inputs) What is output? Test scores? Which scores? Graduation rates? Multiple outputs? Estimation . Theory. Output= f(inputs) What are the inputs? Think of (pure or general) theory

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Education Production Function

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  1. Education Production Function A model

  2. Theory • Output= f(inputs) • What is output? • Test scores? • Which scores? • Graduation rates? • Multiple outputs? • Estimation

  3. Theory • Output= f(inputs) • What are the inputs? • Think of (pure or general) theory • Capital, labor (human capital), energy, materials • Think of literature (you have been reading the literature, right?) • student teacher ratio • teacher salaries • per pupil expenditures • socio-demographic characteristics • other

  4. Theory • Output = f(inputs) • What is f(.)? • Linear • non-linear • no interactions • interactions

  5. Estimation • Multiple outputs • separate regressions • Seemingly unrelated regressions • cross equation restrictions

  6. Estimation - SUR

  7. Estimation - SUR • Cross equation constraints • F(y, z; x1, x2) • PPF • MRTSy = MRTSx • implication

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