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Trends in Quality Adjusted Skill Premia in the US, 1960-2000

  • Carneiro, Pedro
  • Lee, Sokbae

This paper presents new evidence that increases in college enrollment lead to a decline in the average quality of college graduates between 1960 and 2000, resulting in a decrease of 6 percentage points in the college premium. We show that although a standard demand and supply framework can qualitatively account for the trend in the college and age premia over this period, substantial quantitative adjustments still need to be made to account for changes in quality.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 8108.

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Date of creation: Nov 2010
Date of revision:
Handle: RePEc:cpr:ceprdp:8108
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  1. Richard J. Murnane & John B. Willett & Frank Levy, 1995. "The Growing Importance of Cognitive Skills in Wage Determination," NBER Working Papers 5076, National Bureau of Economic Research, Inc.
  2. Carneiro, Pedro & Heckman, James J. & Vytlacil, Edward, 2010. "Estimating Marginal Returns to Education," IZA Discussion Papers 5275, Institute for the Study of Labor (IZA).
  3. Bishop, John Hillman, 1989. "Is the Test Score Decline Responsible for the Productivity Growth Decline?," American Economic Review, American Economic Association, vol. 79(1), pages 178-97, March.
  4. repec:oup:qjecon:v:116:y:2001:i:2:p:705-746 is not listed on IDEAS
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