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Toward A New Methodology For Estimating The Marginal Social Rate Of Return To Public Investments In Higher Education
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Book Synopsis Toward a New Methodology for Estimating the Marginal Social Rate of Return to Public Investments in Higher Education by : Jan Lewandrowski
Download or read book Toward a New Methodology for Estimating the Marginal Social Rate of Return to Public Investments in Higher Education written by Jan Lewandrowski and published by . This book was released on 1985 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States invests tens of billions of dollars in higher education each year. This had led many researchers to estimate the marginal and average rates of return to these expenditures. Past works, however, have been partial in scope. That is, they have counted only the benefits of higher education which result from the increased earnings of college graduates over people with only a high school diploma. Additional benefits, such as lower consumer prices which result from a more productive work force, have not been considered previously and empirically estimated. The purpose of the present study was to use the techniques of applied welfare analysis to develop a new approach to estimating the marginal social rate of return to investments in higher education. The annual economic benefits to society from increased levels of public support for higher education are estimated by changes in areas of consumer and producer surplus associated with the general equilibrium supply and demand curves for college educated labor. These benefits are then equated with the increased expenditures using a standard discount formula, and a marginal social rate of return is calculated. Data for this study come from the Bureau of the Census and the National Center for Educational Statistics. The supply and demand curves for the labor of college graduates are estimated by ordinary least squares regression treating each state as a separate labor market. Our analysis suggests that further increases in the level of public expenditures for higher education may not be justified using cost benefit analysis techniques. The weakness of the statistical properties associated with our empirical results, however, indicates considerable additional research is necessary prior to making a policy recommendation on the issue.
Book Synopsis Masters Theses in the Pure and Applied Sciences by : Wade H. Shafer
Download or read book Masters Theses in the Pure and Applied Sciences written by Wade H. Shafer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Masters Theses in the Pure and Applied Sciences was first conceived, published, SIld disseminated by the Center for Information and Numerical Data Analysis and Synthesis (CINDAS) * at Purdue University in 1957, starting its coverage of theses with the academic year 1955. Beginning with Volume 13, the printing and dissemination phases of the activity were transferred to University Microfilms/Xerox of Ann Arbor, Michigan, with the thought that such an arrangement would be more beneficial to the academic and general scientific and technical community. After five years of this joint undertaking we had concluded that it was in the interest of all con cerned if the printing and distribution of the volumes were handled by an interna and broader dissemination. tional publishing house to assure improved service Hence, starting with Volume 18, Masters Theses in the Pure and Applied Sciences has been disseminated on a worldwide basis by Plenum Publishing Cor poration of New York, and in the same year the coverage was broadened to include Canadian universities. All back issues can also be ordered from Plenum. We have reported in Volume 30 (thesis year 1985) a total of 12,400 theses titles from 26 Canadian and 186 United States universities. We are sure that this broader base for these titles reported will greatly enhance the value of this important annual reference work.
Book Synopsis The Returns to Investments in Learning by : Howard Rothmann Bowen
Download or read book The Returns to Investments in Learning written by Howard Rothmann Bowen and published by . This book was released on 1979 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Marginal Pricing and Student Investment in Higher Education by : Steven W. Hemelt
Download or read book Marginal Pricing and Student Investment in Higher Education written by Steven W. Hemelt and published by . This book was released on 2014 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effect of marginal price on students' educational investments using rich administrative data on students at Michigan public universities. Students facing zero marginal price for credits above the full-time minimum (i.e., 12 credits) attempt and complete about the same average number of credits as those whose institutions charge per credit. Zero marginal price induces a modest share of students (i.e., 7 percent) to attempt up to one additional class (i.e., 3 credits) but also increases withdrawals, resulting in little impact on earned credits or the likelihood of meeting "on-time" benchmarks toward college completion. Consistent with theory, the moderate impact on attempted credits is largest among students who would otherwise locate at the full-time minimum, which include lower-achieving and socio-economically disadvantaged students.
Book Synopsis Estimating the returns to education: a disaggregated approach. By Richard S. Eckans ... A technical report sponsored by the Carnegie Commission on Higher Education by : Carnegie Commission on Higher Education
Download or read book Estimating the returns to education: a disaggregated approach. By Richard S. Eckans ... A technical report sponsored by the Carnegie Commission on Higher Education written by Carnegie Commission on Higher Education and published by . This book was released on 1973 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Labor Economics by : Orley Ashenfelter
Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 1999-11-18 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the continually evolving field of labour economics.
Book Synopsis Social and Private Rate of Return to Investment in Higher Education in Iran by : Cornell University Agricultural Experiment Station, Ithaca, N.Y. Dept. of Agricultural Economics
Download or read book Social and Private Rate of Return to Investment in Higher Education in Iran written by Cornell University Agricultural Experiment Station, Ithaca, N.Y. Dept. of Agricultural Economics and published by . This book was released on 1970 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating the Returns to Education by : Harry A. Patrinos
Download or read book Estimating the Returns to Education written by Harry A. Patrinos and published by . This book was released on 2016 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Typically estimates of the benefits of education investments show average private rates of return for the average individual. The averagemay not be useful for policy. An examination of the distribution of the returns across individuals is needed. The few studies that have examined these patterns focus on high-income countries, showing investments to be more profitable at the top of the income distribution. The implication is that investments may increase inequality. Extending the analysis to 16 East Asian and Latin American countries the authors observe mixed evidence in middle-income countries and decreasing returns in low-income countries. Such differences between countries could be due to more job mobility in industrial countries, scarcity of skills, or differential exposure to market forces.
Book Synopsis Education for Development by : George Psacharopoulos
Download or read book Education for Development written by George Psacharopoulos and published by Oxford University Press, USA. This book was released on 1985 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the World Bank's twenty years of experience in education sector analysis and research, this book analyzes the policy issues facing educational planners, administrators, and policymakers in developing countries in choosing alternative strategies of educational investment.
Book Synopsis Innovation and Public Policy by : Austan Goolsbee
Download or read book Innovation and Public Policy written by Austan Goolsbee and published by University of Chicago Press. This book was released on 2022-03-25 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: A calculation of the social returns to innovation /Benjamin F. Jones and Lawrence H. Summers --Innovation and human capital policy /John Van Reenen --Immigration policy levers for US innovation and start-ups /Sari Pekkala Kerr and William R. Kerr --Scientific grant funding /Pierre Azoulay and Danielle Li --Tax policy for innovation /Bronwyn H. Hall --Taxation and innovation: what do we know? /Ufuk Akcigit and Stefanie Stantcheva --Government incentives for entrepreneurship /Josh Lerner.
Book Synopsis Earnings Functions and Rates of Return by : James J. Heckman
Download or read book Earnings Functions and Rates of Return written by James J. Heckman and published by . This book was released on 2010 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The internal rate of return to schooling is a fundamental economic parameter that is often used to assess whether expenditure on education should be increased or decreased. This paper considers alternative approaches to estimating marginal internal rates of return for different schooling levels. We implement a general nonparametric approach to estimate marginal internal rates of return that take into account tuition costs, income taxes and nonlinearities in the earnings-schooling-experience relationship. The returns obtained by the more general method differ substantially from Mincer returns in levels and in their evolution over time. They indicate relatively larger returns to graduating from high school than from graduating from college, although both have been increasing over time.
Book Synopsis Estimating the Social Return to Higher Education by : Enrico Moretti
Download or read book Estimating the Social Return to Higher Education written by Enrico Moretti and published by . This book was released on 2002 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists have speculated for at least a century that the social return to education may exceed the private return. In this paper, I estimate spillovers from college education by comparing wages for otherwise similar individuals who work in cities with different shares of college graduates in the labor force. OLS estimates show a large positive relationship between the share of college graduates in a city and individual wages, over and above the private return to education. A key issue in this comparison is the presence of unobservable individual characteristics, such as ability, that may raise wages and be correlated with college share. I use a confidential version of the National Longitudinal Survey of Youth (NLSY) to estimate a model of non-random selection of workers among cities. By observing the same individual over time, I can control for differences in unobserved ability across individuals and differences in the return to skills across cities. I then investigate the hypothesis that the correlation between college share and wages is due to unobservable city-specific shocks that may raise wages and attract more highly educated workers to different cities. To control for this source of potential bias, I turn to Census data and use two instrumental variables: the lagged city demographic structure and the presence of a land--grant college. The results from Census data are remarkably consistent with those based on the NLSY sample. A percentage point increase in the supply of college graduates raises high school drop-outs' wages by 1.9%, high school graduates' wages by 1.6%, and college graduates wages by 0.4%. The effect is larger for less educated groups, as predicted by a conventional demand and supply model. But even for college graduates, an increase in the supply of college graduates increases wages, as predicted by a model that includes conventional demand and supply factors as well as spillovers
Book Synopsis Estimating the Impact of a College Or University on the Local Economy by : John Caffrey
Download or read book Estimating the Impact of a College Or University on the Local Economy written by John Caffrey and published by . This book was released on 1971 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating the Returns to Education by : Harry Anthony Patrinos
Download or read book Estimating the Returns to Education written by Harry Anthony Patrinos and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Typically estimates of the benefits of education investments show average private rates of return for the average individual. The average may not be useful for policy. An examination of the distribution of the returns across individuals is needed. The few studies that have examined these patterns focus on high-income countries, showing investments to be more profitable at the top of the income distribution. The implication is that investments may increase inequality. Extending the analysis to 16 East Asian and Latin American countries the authors observe mixed evidence in middle-income countries and decreasing returns in low-income countries. Such differences between countries could be due to more job mobility in industrial countries, scarcity of skills, or differential exposure to market forces.
Book Synopsis The Return to Increased Public Expenditures on Education by : Richard A. Krop
Download or read book The Return to Increased Public Expenditures on Education written by Richard A. Krop and published by . This book was released on 2000 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating Marginal Returns to Education by : Pedro Carneiro
Download or read book Estimating Marginal Returns to Education written by Pedro Carneiro and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper estimates the marginal returns to college for individuals induced to enroll in college by different marginal policy changes. The recent instrumental variables literature seeks to estimate this parameter, but in general it does so only under strong assumptions that are tested and found wanting. We show how to utilize economic theory and local instrumental variables estimators to estimate the effect of marginal policy changes. Our empirical analysis shows that returns are higher for individuals with values of unobservables that make them more likely to attend college. We contrast the returns to well-defined marginal policy changes with IV estimates of the return to schooling. Some marginal policy changes inducing students into college produce very low returns
Book Synopsis Private and Social Returns to Investment in Education by : Harry Anthony Patrinos
Download or read book Private and Social Returns to Investment in Education written by Harry Anthony Patrinos and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates private and social returns to investment in education in Turkey, using the 2017 Household Labour Force Survey (latest available at the time of writing) and alternative methodologies. The analysis uses the 1997 education reform of increasing compulsory education by three years as an instrument. This results in a private rate of return on the order of 16% for higher education and a social return of 10%. Using the number of children younger than age 15 in the household as an exclusion restriction, sample selection correction is applied, and it shows that the returns to education for females are higher than those for males. Contrary to many findings in other countries, private returns to those working in the public sector are higher than those in the private sector, and private returns to those who followed the vocational track in secondary education are higher than those in the general academic track. The paper discusses the policy implications of the findings.
