Data and Code for Risk, the College Premium, and Aggregate Human Capital Investment
Principal Investigator(s): View help for Principal Investigator(s) Kartik Athreya, Federal Reserve Bank of Richmond; Janice Eberly, Kellogg School of Management, Northwestern University
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
|---|---|---|---|
| AE_files_to_AEJ_Macro | 03/04/2020 10:30:AM |
Project Citation:
Athreya, Kartik, and Eberly, Janice. Data and Code for Risk, the College Premium, and Aggregate Human Capital Investment. Nashville, TN: American Economic Association [publisher], 2021. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2021-03-19. https://doi.org/10.3886/E111145V1
Project Description
Summary:
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Despite increases in the college earnings premium to persistently high
levels, investment in college education remains low. We can understand this
apparent puzzle by considering the risk of attending college, and in
particular the possibility of failing to graduate. Students with a
reasonable probability of completing college already enroll, and for those
who do not enroll, the low chance of completion blunts the impact of the
rising college premium. In the absence of improved college readiness, our
quantitative results suggest that continuing long-standing trends in
skill-biased technological change can be expected primarily to increase
earnings inequality, rather than college attainment.
levels, investment in college education remains low. We can understand this
apparent puzzle by considering the risk of attending college, and in
particular the possibility of failing to graduate. Students with a
reasonable probability of completing college already enroll, and for those
who do not enroll, the low chance of completion blunts the impact of the
rising college premium. In the absence of improved college readiness, our
quantitative results suggest that continuing long-standing trends in
skill-biased technological change can be expected primarily to increase
earnings inequality, rather than college attainment.
Scope of Project
Subject Terms:
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College Premium;
College Enrollment;
Graduation Risk
JEL Classification:
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I21 Analysis of Education
I24 Education and Inequality
J24 Human Capital • Skills • Occupational Choice • Labor Productivity
I21 Analysis of Education
I24 Education and Inequality
J24 Human Capital • Skills • Occupational Choice • Labor Productivity
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