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Housing Prices, Unemployment Rates, Disadvantage, and Progress toward a Degree

Listed author(s):
  • Stratton, Leslie S.

    ()

    (Virginia Commonwealth University)

Rising unemployment and housing price appreciation are associated with increased college enrollment. Enrollment does not, however, guarantee completion. We use a discrete time, competing hazard function that accommodates individual-specific heterogeneity to assess the impact changing unemployment and housing prices have on progress toward a college degree in the United States for students interviewed for the 1996-2001 Beginning Post-Secondary Survey. The results indicate that rising unemployment rates have at best a modest effect on six year graduation rates. Both boys and girls are, however, more likely to not be enrolled and less likely to have graduated at the six-year mark when housing prices appreciate, and this effect is more pronounced for more disadvantaged youth.

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File URL: http://ftp.iza.org/dp10941.pdf
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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 10941.

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Length: 58 pages
Date of creation: Aug 2017
Handle: RePEc:iza:izadps:dp10941
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  1. repec:jct:journl:v:ii:y:2007:i:2:p:54-62 is not listed on IDEAS
  2. Atif Mian & Amir Sufi, 2014. "House Price Gains and U.S. Household Spending from 2002 to 2006," NBER Working Papers 20152, National Bureau of Economic Research, Inc.
  3. Stratton, Leslie S. & O'Toole, Dennis M. & Wetzel, James N., 2006. "Are the Factors Affecting Dropout Behavior Related to Initial Enrollment Intensity for College Undergraduates?," IZA Discussion Papers 1951, Institute for the Study of Labor (IZA).
  4. Kahn, Lisa B., 2010. "The long-term labor market consequences of graduating from college in a bad economy," Labour Economics, Elsevier, vol. 17(2), pages 303-316, April.
  5. Michael F. Lovenheim, 2011. "The Effect of Liquid Housing Wealth on College Enrollment," Journal of Labor Economics, University of Chicago Press, vol. 29(4), pages 741-771.
  6. Michael F. Lovenheim & C. Lockwood Reynolds, 2013. "The Effect of Housing Wealth on College Choice: Evidence from the Housing Boom," Journal of Human Resources, University of Wisconsin Press, vol. 48(1), pages 1-35.
  7. Robert Bozick, 2009. "Job opportunities, economic resources, and the postsecondary destinations of American youth," Demography, Springer;Population Association of America (PAA), vol. 46(3), pages 493-512, August.
  8. Harris Dellas & Plutarchos Sakellaris, 2003. "On the cyclicality of schooling: theory and evidence," Oxford Economic Papers, Oxford University Press, vol. 55(1), pages 148-172, January.
  9. Gustman, Alan L & Steinmeier, Thomas L, 1981. "The Impact of Wages and Unemployment on Youth Enrollment and Labor Supply," The Review of Economics and Statistics, MIT Press, vol. 63(4), pages 553-560, November.
  10. Susan Dynarski, 2002. "The Behavioral and Distributional Implications of Aid for College," American Economic Review, American Economic Association, vol. 92(2), pages 279-285, May.
  11. Stratton, Leslie S. & O'Toole, Dennis M. & Wetzel, James N., 2004. "Factors affecting initial enrollment intensity: part-time versus full-time enrollment," Economics of Education Review, Elsevier, vol. 23(2), pages 167-175, April.
  12. Philip Oreopoulos & Till von Wachter & Andrew Heisz, 2012. "The Short- and Long-Term Career Effects of Graduating in a Recession," American Economic Journal: Applied Economics, American Economic Association, vol. 4(1), pages 1-29, January.
  13. Matthew T. Johnson, 2013. "The Impact of Business Cycle Fluctuations on Graduate School Enrollment," Mathematica Policy Research Reports 77da29f047574fbfb5f216d63, Mathematica Policy Research.
  14. Liu, Kai & Salvanes, Kjell G. & Sørensen, Erik Ø., 2016. "Good skills in bad times: Cyclical skill mismatch and the long-term effects of graduating in a recession," European Economic Review, Elsevier, vol. 84(C), pages 3-17.
  15. 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.
  16. Dellas, Harris & Koubi, Vally, 2003. "Business cycles and schooling," European Journal of Political Economy, Elsevier, vol. 19(4), pages 843-859, November.
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