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Liquidity constraints and the cyclicality of college enrollment in the United States

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  • Michael S. Christian
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    Abstract

    Liquidity constraints have a procyclical influence on college enrollment, as people with limited borrowing power have more trouble affording college during recessions. Consequently, if enrollment is influenced by liquidity constraints, people who are more likely to be constrained may enroll more procyclically. Using Current Population Survey data over 1968--2000, I do not find substantive differences in the cyclicality of enrollment across homeowning and non-homeowning households. However, I find significantly more procyclical enrollment among people in households expected to have lower incomes. These findings offer mixed evidence for the historical influence of liquidity constraints on college enrollment in the United States. Copyright 2007, Oxford University Press.

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    File URL: http://hdl.handle.net/10.1093/oep/gpl021
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    Bibliographic Info

    Article provided by Oxford University Press in its journal Oxford Economic Papers.

    Volume (Year): 59 (2007)
    Issue (Month): 1 (January)
    Pages: 141-169

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    Handle: RePEc:oup:oxecpp:v:59:y:2007:i:1:p:141-169

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    Cited by:
    1. Fethke, Gary, 2011. "A low-subsidy problem in public higher education," Economics of Education Review, Elsevier, vol. 30(4), pages 617-626, August.
    2. Adamopoulou, Effrosyni & Tanzi, Giulia M., 2014. "Academic Performance and the Great Recession," MPRA Paper 54913, University Library of Munich, Germany.
    3. Johnson, Matthew T., 2013. "The impact of business cycle fluctuations on graduate school enrollment," Economics of Education Review, Elsevier, vol. 34(C), pages 122-134.

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