Educational Attainment and Labor Market Outcomes: Estimating Distributions of The Returns to Educational Interventions Pedro Carneiro ∗ , Karsten T. Hansen † and James J. Heckman ‡ October 13, 2000 § May 22, 2001 Revised, September 27, 2001 ∗ Address: Department of Economics, University of Chicago, 1126 E. 59th Street, IL 60637. E- mail:Pmcarnei@midway.uchicago.edu. † Address: Department of Economics, The University of Chicago, 1126 East 59th Street, Chicago, IL 60637. E-mail: khansen@midway.uchicago.edu. ‡ Address: Department of Economics, The University of Chicago, 1126 East 59th Street, Chicago, IL 60637, and The American Bar Foundation. E-mail: jjh@uchicago.edu. This research is supported by NSF 97-09-873, SES-0099195, and NICHD-40-4043-000-85-261. Heckman’s work was also supported by the American Bar Foundation and the Donner Foundation. § Previous versions of this paper were given at the Midwest Econometrics Group, October 2000, Wash- ington University St. Louis, May, 2001 and the Nordic Econometrics Meetings, May, 2001. A version of this paper was presented as the Klein Lecture at the University of Pennsylvania, September, 28, 2001. 1