An analysis of the argument that a market imperfection (wage differentials and queuing caused by unions) raises the marginal social product (MSP) of college education above the average before-tax private wage premium (APP) for college (this discrepancy is called a union-Q-nality) focuses on verifying five hypotheses: (1) Workers with identical…

The results of analyzing age-income distributions by educational categories with cost data suggest that the rates of return have not decreased over the 1960's and that the return to those completing two-year programs may be much higher than previously thought. (Author/MW)

This paper examines the growing college premium for younger men and the earnings patterns for other groups that developed between 1973 and 1987. At first glance, the rapidly increasing college premium for young men seems to confirm several frequently cited economic trends, including a massive restructuring of the economy that displaces all less…