Each group will be allocated to a subset of data consisting of 7000 students.

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

PART A:

Each group will be allocated to a subset of data consisting of 7000 students. You are asked to estimate the following model:

math12, = bo + b,cathhs, + b2lfaminc + b,read12 + u ... (1)

where math12 = mathematics standardized scores, cathhs = 1 if attended Catholic secondary school, Ifaminc=the log of family income, u=random error term

(i) Describe the data using relevant summary statistics.

(ii) Present the OLS estimates.

(iii) Provide a clear interpretation of the results, paying attention to the units of measurement of the variables.

(iv) Using motheduc and fatheduc as instruments for read12, estimate equation (1) using instrumental variables.

(v) How does the instrumental variables estimation of equation (1) compare with

 

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