This paper is a review of the literature in economics on the effect on earnings of human capital investment from Adam Smith to the early 1980s. It discusses the use of the net present value (NPV) technique by Walsh and Friedman and Kuznets, and Becker's use of the NPV to estimate the internal rate of return to schooling. The first regression-based…

We study how human capital diversification, in the form of double majoring, affects the response of earnings to labor market shocks. Double majors experience substantial protection against earnings shocks, of 56%. This finding holds across different model specifications and data sets. Furthermore, the protection double majors experience is more…

School absences can negatively impact a child's schooling, including the loss of teacher-led lessons, peer interactions, and, ultimately, academic achievement. However, little is known about the long-term consequences of school absences for overall educational attainment and labour market outcomes. In this paper, we used data from the 1970 British…

Despite decades and hundreds of billions of dollars of federal and state investment in policies to promote postsecondary educational attainment as a key lever for increasing the economic mobility of lower income populations, research continues to show large and meaningful differences in the mid-career earnings of students from families in the…

The advantages of higher education have received significant attention over time. However, recent research seems to challenge this assumption. It highlights that returns to education may be subject to inflation, may vary in relation to skills, and may not be equally distributed, thus posing new questions about the role of formal education. Against…

This dissertation studies the effect of higher education costs on students' outcomes in the labor market, particularly when credit constraints are absent. It utilizes the UK's institutional setting to identify such an effect. The key findings are as follows. (i) Increasing tuition fees does not have adverse effects on students as long as credit…

State and federal governments invest millions of dollars in providing accurate and relevant information on expected outcomes to students pursuing higher education, but whether such information targets what students value about college is unclear. We use new survey data to identify the extent to which conventional indicators for college quality and…

Using longitudinal data of college graduates in Colombia, we estimate labor market returns to postsecondary degrees and to various skills--including literacy, numeracy, foreign language, and field-specific skills. Graduates of academic programs and schools of higher reputation obtain higher earnings relative to vocational public programs. A one…

Reverse transfer associate degrees are credentials retroactively awarded to current bachelor's degree seekers, combining four-year credits with credits previously earned at a community college. Using administrative data from Tennessee, we use a difference-in-difference design to compare students before and after receipt of a reverse transfer…

Reverse transfer associate degrees are credentials retroactively awarded to current bachelor's degree seekers, combining four-year credits with credits previously earned at a community college. Using administrative data from Tennessee, we use a difference-in-difference design to compare students before and after receipt of a reverse transfer…

This paper introduces a new measure of the labor markets served by colleges and universities across the United States. About 50 percent of recent college graduates are living and working in the metro area nearest the institution they attended, with this figure climbing to 67 percent in-state. The geographic dispersion of alumni is more than twice…

This paper introduces a new measure of the labor markets served by colleges and universities across the United States. About 50% of recent college graduates are living and working in the metro area nearest the institution they attended, with this figure climbing to 67% in-state. The geographic dispersion of alumni is more than twice as great for…

Recent years have seen accelerating interest in measuring the employment outcomes of recent college graduates. New data tools and research, such as the College Scorecard, increasingly sophisticated state-level data systems, and studies investigating students' long-term economic mobility, continue to roll out. While postgraduate wages have been an…

Purpose: Indian government initiated several skill development policies and different types of vocational education and training (VET). Yet the participation in skill education is low because of poor labour market outcomes. This paper aims to calculate returns to skill education to understand the type of training that will have better labour…

Each year, Statistics Canada releases data on the labour market outcomes of college and university graduates using data from the Education and Labour Market Longitudinal Platform (ELMLP). Statistics Canada has developed the ELMLP in collaboration with the provincial and territorial ministries of education, Employment and Social Development Canada…