In this study we provide evidence on the effect of alcohol consumption\ud on occupational attainment and wages in England. To do this we\ud use a pooled sample of employees from the Health Survey for England\ud of 1994, 1995 and 1996. Using the technique of Instrumental Variables\ud we find positive returns to moderate levels of drinking that drop-off\ud rapidly as consumption increases. This result holds when we use a restricted\ud sample consisting of only those individuals with consumption\ud patterns that have remained constant over a five year period
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