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Changes in the returns to education and college quality

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  • Long, Mark C.
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    Abstract

    This paper estimates changes in the effects of educational attainment and college quality on three cohorts of students observed during the 1970s, 1980s, and 1990s. Consistent with most of the prior literature, I find that educational attainment and college quality raise earnings, and the magnitudes of these effects have increased over time. The new contributions of this paper are the following: (1) changes in these effects are disaggregated by sex, race, and parent's SES, and include estimates of effects on earnings, labor force participation, family formation, and civic participation; (2) evidence of larger increases in the effects of education on earnings and labor force participation for men, Blacks, and Hispanics; (3) declining effects of educational attainment on voter registration; and (4) increasing effects of college quality on delaying marriage and childbearing, particularly for males.

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    Bibliographic Info

    Article provided by Elsevier in its journal Economics of Education Review.

    Volume (Year): 29 (2010)
    Issue (Month): 3 (June)
    Pages: 338-347

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    Handle: RePEc:eee:ecoedu:v:29:y:2010:i:3:p:338-347

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    Web page: http://www.elsevier.com/locate/econedurev

    Related research

    Keywords: Rate of return Human capital;

    References

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    1. James, Estelle, et al, 1989. "College Quality and Future Earnings: Where Should You Send Your Child to College?," American Economic Review, American Economic Association, vol. 79(2), pages 247-52, May.
    2. Eide, Eric & Brewer, Dominic J. & Ehrenberg, Ronald G., 1998. "Does it pay to attend an elite private college? Evidence on the effects of undergraduate college quality on graduate school attendance," Economics of Education Review, Elsevier, vol. 17(4), pages 371-376, October.
    3. David H. Autor & Lawrence F. Katz & Alan B. Krueger, 1997. "Computing Inequality: Have Computers Changed the Labor Market?," NBER Working Papers 5956, National Bureau of Economic Research, Inc.
    4. Daniel, K. & Black, D. & Smith, J., 1997. "College Quality and the Wages of Young Men," UWO Department of Economics Working Papers 9707, University of Western Ontario, Department of Economics.
    5. Long, Mark C., 2008. "College quality and early adult outcomes," Economics of Education Review, Elsevier, vol. 27(5), pages 588-602, October.
    6. Bound, John & Johnson, George, 1992. "Changes in the Structure of Wages in the 1980's: An Evaluation of Alternative Explanations," American Economic Review, American Economic Association, vol. 82(3), pages 371-92, June.
    7. Stacy Berg Dale & Alan B. Krueger, 1999. "Estimating the Payoff to Attending a More Selective College: An Application of Selection on Observables and Unobservables," NBER Working Papers 7322, National Bureau of Economic Research, Inc.
    8. Lorraine Dearden & Javier Ferri & Costas Meghir, 2000. "The effect of school quality on educational attainment and wages," IFS Working Papers W00/22, Institute for Fiscal Studies.
    9. Behrman, Jere R & Rosenzweig, Mark R & Taubman, Paul, 1996. "College Choice and Wages: Estimates Using Data on Female Twins," The Review of Economics and Statistics, MIT Press, vol. 78(4), pages 672-85, November.
    10. Dan A. Black & Jeffrey Smith, 2003. "How Robust is the Evidence on the Effects of College Quality? Evidence From Matching," University of Western Ontario, CIBC Centre for Human Capital and Productivity Working Papers 20033, University of Western Ontario, CIBC Centre for Human Capital and Productivity.
    11. Dan A. Black & Jeffrey A. Smith, 2006. "Estimating the Returns to College Quality with Multiple Proxies for Quality," Journal of Labor Economics, University of Chicago Press, vol. 24(3), pages 701-728, July.
    12. Audrey Light & Wayne Strayer, 2000. "Determinants of College Completion: School Quality or Student Ability?," Journal of Human Resources, University of Wisconsin Press, vol. 35(2), pages 299-332.
    13. Paul Wachtel, 1975. "The Effect of School Quality on Achievement, Attainment Levels, and Lifetime Earnings," NBER Chapters, in: Explorations in Economic Research, Volume 2, number 4, pages 502-536 National Bureau of Economic Research, Inc.
    14. Michael J. Hilmer, 2002. "Human Capital Attainment, University Quality, and Entry-Level Wages for College Transfer Students," Southern Economic Journal, Southern Economic Association, vol. 69(2), pages 457-469, October.
    15. Catherine Ross & John Mirowsky, 1999. "Refining the association between education and health: The effects of quantity, credential, and selectivity," Demography, Springer, vol. 36(4), pages 445-460, November.
    16. Monks, James, 2000. "The returns to individual and college characteristics: Evidence from the National Longitudinal Survey of Youth," Economics of Education Review, Elsevier, vol. 19(3), pages 279-289, June.
    17. Loury, Linda Datcher & Garman, David, 1995. "College Selectivity and Earnings," Journal of Labor Economics, University of Chicago Press, vol. 13(2), pages 289-308, April.
    18. Card, David, 1999. "The causal effect of education on earnings," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 30, pages 1801-1863 Elsevier.
    19. Mark Hoekstra, 2009. "The Effect of Attending the Flagship State University on Earnings: A Discontinuity-Based Approach," The Review of Economics and Statistics, MIT Press, vol. 91(4), pages 717-724, November.
    20. Jeff Grogger & Eric Eide, 1995. "Changes in College Skills and the Rise in the College Wage Premium," Journal of Human Resources, University of Wisconsin Press, vol. 30(2), pages 280-310.
    21. Dominic J. Brewer & Eric R. Eide & Ronald G. Ehrenberg, 1999. "Does It Pay to Attend an Elite Private College? Cross-Cohort Evidence on the Effects of College Type on Earnings," Journal of Human Resources, University of Wisconsin Press, vol. 34(1), pages 104-123.
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    Citations

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    Cited by:
    1. Joniada Milla, 2012. "University Quality and Labour Market Outcomes of Canadian Youth," Working Papers 1212, University of Guelph, Department of Economics and Finance.
    2. Chen, Weiwei & Grove, Wayne A. & Hussey, Andrew, 2012. "The payoff to school selectivity: An application of Dale and Krueger’s method to MBA programs," Economics Letters, Elsevier, vol. 116(2), pages 247-249.
    3. Fletcher, Jason M. & Frisvold, David E., 2011. "College selectivity and young adult health behaviors," Economics of Education Review, Elsevier, vol. 30(5), pages 826-837, October.
    4. Rajashri Chakrabarti & Joydeep Roy, 2013. "Merit aid, student mobility, and the role of college selectivity," Staff Reports 641, Federal Reserve Bank of New York.
    5. Jason Fletcher & David Frisvold, 2010. "College Quality and Young Adult Health Behaviors," Emory Economics 1007, Department of Economics, Emory University (Atlanta).
    6. Rodney Andrews & Jing Li & Michael Lovenheim, 2014. "Heterogeneous Paths Through College: Detailed Patterns and Relationships with Graduation and Earnings," NBER Working Papers 19935, National Bureau of Economic Research, Inc.
    7. Kamal Vatta & Takahiro Sato, 2012. "Indian Labour Markets and Returns to Education, 1983 to 2009-10," Discussion Paper Series DP2012-33, Research Institute for Economics & Business Administration, Kobe University.
    8. Friedline, Terri & Elliott, William & Nam, Ilsung, 2013. "Small-dollar children's saving accounts and children's college outcomes by race," Children and Youth Services Review, Elsevier, vol. 35(3), pages 548-559.

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