We would like to thank Joshua Angrist, James Heckman, Guido Imbens, Alan Krueger, Tony Lancaster, Sendhil Mullainathan, and Ken Wolpin for helpful comments. The paper has also benefited from comments received at the 1997 Midwestern Econometrics Group conference, the 1997 AEA meetings, the 1998 Econometric Society Summer Meetings in Montreal, the University of Michigan, the University of Rochester, the University of Wisconsin, the joint Harvard/MIT econometrics workshop, and the joint Brown-Yale-NYU-Penn-JHU labor conference. Van der Klaauw thanks the C. V. Starr Center of Applied Economics at NYU for research support. Todd is grateful to the NSF for support under #SBR-9730688.
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