Estimating the Technology of Cognitive and Noncognitive Skill Formation



Table 4

The Technology for Cognitive and Noncognitive Skill Formation

Linear Anchoring on Educational Attainment (Years of Schooling)
Allowing for Unobserved Heterogeneity (
π), Factors Normally Distributed
Panel A: Technology of Cognitive Skill Formation (Next Period Cognitive Skills)

First Stage

Second Stage

Parameters

Parameters

Current Period Cognitive Skills (Self-Productivity)

γ1,C,1

0.479

γ2,C,1

0.831

(0.026)

(0.011)

Current Period Noncognitive Skills (Cross-Productivity)

γ1,C,2

0.070

γ2,C,2

0.001

(0.024)

(0.005)

Current Period Investments

γ1,C,3

0.161

γ2,C,3

0.044

(0.015)

(0.006)

Parental Cognitive Skills

γ1,C,4

0.031

γ2,C,4

0.073

(0.013)

(0.008)

Parental Noncognitive Skills

γ1,C,5

0.258

γ2,C,5

0.051

(0.029)

(0.014)

Complementarity Parameter

φ1,C

0.313

φ2,C

-1.243

(0.134)

(0.125)

Implied Elasticity of Substitution

I∕(1-Φι,c)

1.457

I∕(l-Φ2,c)

0.446

Variance of Shocks ηC,t

δ21,C

0.176

δ22,C

0.087

(0.007)

(0.003)

Panel B: Technology of Noncognitive Skill Formation (Next Period Noncognitive Skills)

First Stage

Second Stage

Parameters

Parameters

current Period cognitive Skills (cross-Productivity)

γ1,N,1

0.000

γ2,N,1

0.000

(0.026)

(0.010)

current Period Noncognitive Skills (Self-Productivity)

γ1,N,2

0.585

γ2,N,2

0.816

(0.032)

(0.013)

current Period Investments

γ1,N,3

0.065

γ2,N,3

0.051

(0.021)

(0.006)

Parental cognitive Skills

γ1,N,4

0.017

γ2,N,4

0.000

(0.013)

(0.008)

Parental Noncognitive Skills

γ1,N,5

0.333

γ2,N,5

0.133

(0.034)

(0.017)

complementarity Parameter

φ1,N

-0.610

φ2,N

-0.551

(0.215)

(0.169)

Implied Elasticity of Substitution

1∕(1-Φi,n)

0.621

1∕(1-Φ2,n)

0.645

Variance of Shocks ηN,t

δ2l,N

0.222

δ22,N

0.101

(0.013)

(0.004)

Note: Standard errors in parenthesis



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