8. (8 points) In the lecture \"Returns to Education\

8. (8 points) In the lecture "Returns to Education", we explain how we may use a student's physical distance to an educational institution as an instrument for schooling to help eliminate the bias in OLS estimation. A possible alternative instrument for schooling is the education level of the student's parents. Write down the two-stage least squares estimation equations in this case. Do you think this would also eliminate the bias in OLS estimation? Explain.