Ontology highlight
ABSTRACT:
SUBMITTER: Garca JL
PROVIDER: S-EPMC7331936 | biostudies-literature | 2020 Jul
REPOSITORIES: biostudies-literature
Garca Jorge Luis JL Heckman James J JJ Leaf Duncan Ermini DE Prados María José MJ
The journal of political economy 20200521 7
This paper quantifies and aggregates the multiple lifetime benefits of an influential high-quality early childhood program with outcomes measured through midlife. Guided by economic theory, we supplement experimental data with non-experimental data to forecast the life-cycle benefits and costs of the program. Our point estimate of the internal rate of return is 13.7% with an associated benefit/cost ratio of 7.3. We account for model estimation and forecasting error and present estimates from ext ...[more]