Conversation starter next time you are with your doctor: How do you sleep at night knowing you are a vampire blood-sucker?

The Returns to Medical School: Evidence from Admission Lotteries Nadine Ketel Edwin Leuven Hessel Oosterbeek Bas van der Klaauw American Economic Journal: Applied Economics vol. 8, no. 2, April 2016 (pp. 225-54)

Abstract: We exploit admission lotteries to estimate the returns to medical school in the Netherlands. Using data from up to 22 years after the lottery, we find that in every single year after graduation doctors earn at least 20 percent more than people who end up in their next-best occupation. Twenty-two years after the lottery the earnings difference is almost 50 percent. Only a small fraction of this difference can be attributed to differences in working hours and human capital investments. The returns do not vary with gender or ability, and shift the entire earnings distribution.

Source: American Economic Association

About mkevane

Economist at Santa Clara University and Director of Friends of African Village Libraries.
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