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Public Policy, Technological Change, and the Evolution of Educational Attainment

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  • Daniele Coen-Pirani

    (Carnegie Mellon University)

  • Rui Castro

    (University of Montreal)

Abstract

The goal of this paper is to develop and calibrate a quantitative general equilibrium model to account for the joint evolution of educational attainment and relative wages among education groups in the U.S. over the 20th century. The key exogenous explanatory variables we consider are skill-biased technical change, U.S. education policies, and demographic changes. The main features of the model are: heterogeneity in ability among individuals; three levels of sequential educational attainment: less than high school, high school, and college; public and private colleges, frictionless asset market; endogenous schooling costs and skill prices; skill-biased technical change.

Suggested Citation

  • Daniele Coen-Pirani & Rui Castro, 2010. "Public Policy, Technological Change, and the Evolution of Educational Attainment," 2010 Meeting Papers 754, Society for Economic Dynamics.
    • Handle: RePEc:red:sed010:754
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    References listed on IDEAS

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    1. Diego Restuccia & Guillaume Vandenbroucke, 2013. "The Evolution Of Education: A Macroeconomic Analysis," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 915-936, August.
    2. Nicole M. Fortin, 2006. "Higher-Education Policies and the College Wage Premium: Cross-State Evidence from the 1990s," American Economic Review, American Economic Association, vol. 96(4), pages 959-987, September.
    3. Bound, John & Turner, Sarah, 2007. "Cohort crowding: How resources affect collegiate attainment," Journal of Public Economics, Elsevier, vol. 91(5-6), pages 877-899, June.
    4. James Heckman & Lance Lochner & Christopher Taber, 1998. "Explaining Rising Wage Inequality: Explanations With A Dynamic General Equilibrium Model of Labor Earnings With Heterogeneous Agents," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(1), pages 1-58, January.
    5. David Card & Thomas Lemieux, 2001. "Dropout and Enrollment Trends in the Postwar Period: What Went Wrong in the 1970s?," NBER Chapters, in: Risky Behavior among Youths: An Economic Analysis, pages 439-482, National Bureau of Economic Research, Inc.
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