Schooling Choices and Demographic Cycles
This paper examines the effect of demographic cycles on schooling choices and the timing of school completion. Utilizing data from the National Longitudinal Surveys of Labor Market Experience and from the Panel Study of Income Dynamics, we find that men and women born during the upswing of a demographic cycle obtain more schooling and take longer to finish a year of schooling than comparable individuals born during the downswing of a demographic cycle. The patterns that we document are more complex than would be predicted by any of the theoretical models of educational responses to demographic cycles that have been presented in the literature.
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