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Agglomeration and job matching among college graduates
Abel, Jaison R.; Deitz, Richard (2012-12-01)
We examine job matching as a potential source of urban agglomeration economies. Focusing on college graduates, we construct two direct measures of job matching based on how well an individual?s job corresponds to his or her college education. Consistent with matching-based theories of urban agglomeration, we find evidence that larger and thicker local labor markets increase both the likelihood and quality of a job match for college graduates. We then assess the extent to which better job matching of college-educated workers increases individual-level wages and thereby contributes to the urban ...
Staff Reports , Paper 587

Working Paper
Job Displacement and Sectoral Mobility
Jackson, Osborne (2021-10-01)
This paper combines two components of the US Current Population Survey to characterize the relationship between job displacement and sectoral mobility for long-tenured workers over the 1996–2019 period: (1) the cross-sectional Displaced Worker Survey and (2) the 16-month longitudinal design of the Basic Monthly Survey. While displacement negatively correlates with mobility over time, such job loss has a positive causal impact on mobility for displaced workers compared with similar non-displaced workers. Education and industry structure facilitate post-displacement industry switching, and ...
Working Papers , Paper 21-19

Working Paper
The Macroeconomic Consequences of Early Childhood Development Policies
Daruich, Diego (2018-10-11)
To study long-run large-scale early childhood policies, this paper incorporates early childhood investments into a standard general-equilibrium (GE) heterogeneous-agent overlapping-generations model. After estimating it using US data, we show that an RCT evaluation of a short-run small-scale early childhood program in the model predicts effects on children's education and income that are similar to the empirical evidence. A long-run large-scale program, however, yields twice as large welfare gains, even after considering GE and taxation effects. Key to this difference is that investing in a ...
Working Papers , Paper 2018-29

Working Paper
Saving and Wealth Accumulation among Student Loan Borrowers: Implications for Retirement Preparedness
Dettling, Lisa J.; Goodman, Sarena F.; Reber, Sarah (2022-04-01)
Borrowing for education has increased rapidly in the past several decades, such that the majority of non-housing debt on US households' balance sheets is now student loan debt. This chapter analyzes the implications of student loan borrowing for later-life economic well-being, with a focus on retirement preparation. We demonstrate that families holding student loan debt later in life have less savings than their similarly educated peers without such debt. However, these comparisons are misleading if the goal is to characterize the experience of the typical student borrower, as they fail to ...
Finance and Economics Discussion Series , Paper 2022-019

Report
Student Debt and Default: The Role of For-Profit Colleges
Chakrabarti, Rajashri; Lovenheim, Michael; Armona, Luis (2017-04-01)
For-profit providers have become an important fixture of U.S. higher education markets. Students who attend for-profit institutions take on more educational debt and are more likely to default on their student loans than those attending similarly selective public schools. Because for-profits tend to serve students from more disadvantaged backgrounds, it is important to isolate the causal effect of for-profit enrollment on student debt and repayment outcomes as well as the educational and labor market mechanisms that drive any such effects. We approach this problem using a novel instrument ...
Staff Reports , Paper 811

Discussion Paper
Job Training Mismatch and the COVID-19 Recovery: A Cautionary Note from the Great Recession
http://fedora:8080/fcrepo/rest/objects/authors/; Hyman, Benjamin (2020-05-27)
Displaced workers have been shown to endure persistent losses years beyond their initial job separation events. These losses are especially amplified during recessions. (1) One explanation for greater persistence in downturns relative to booms, is that firms and industries on the margin of structural change permanently shift the types of tasks and occupations demanded after a large negative shock (Aghion et al. (2005)), but these new occupations do not match the stock of human capital held by those currently displaced. In response to COVID-19, firms with products and services that complement ...
Liberty Street Economics , Paper 20200527

Working Paper
International trade and labor reallocation: misclassification errors, mobility, and switching costs
Dvorkin, Maximiliano (2022-08-12)
Over the last few decades, international trade has increased at a rapid pace, altering domestic production and labor demand in different sectors of the economy. A growing literature studies the heterogeneous effects of trade shocks on workers’ employment and on welfare when reallocation decisions are costly. The estimated effects critically depend on data on workers’ reallocation patterns, which is typically plagued with coding errors. In this paper, I study the consequences of misclassification errors for estimates of the labor market effects of international trade and show that ...
Working Papers , Paper 2021-014

Working Paper
Causes and Consequences of Student-College Mismatch
Hendricks, Lutz; Koreshkova, Tatyana; Leukhina, Oksana (2024-09)
Our objective is to understand the observed patterns of student-college sorting and earnings premia associated with college quality in the United States. Higher quality colleges have higher graduation rates and their graduates earn more. Yet, a large fraction of high scoring students enroll in two-year schools and low quality four-year schools – this “undermatch” phenomenon is more pronounced for low income students. To understand these patterns, we develop a model with heterogeneous students and colleges that differ in human capital production technology and financial costs. We ...
Working Papers , Paper 2022-026

Working Paper
The Slaughter of the Bison and Reversal of Fortunes on the Great Plains
Gillezeau, Rob; Feir, Donna; Jones, Maggie E. C. (2019-01-14)
In the late 19th century, the North American bison was brought to the brink of extinction in just over a decade. We show that the bison?s slaughter led to a reversal of fortunes for the Native Americans who relied on them. Once the tallest people in the world, the generations of bison-reliant people born after the slaughter were among the shortest. Today, formerly bison-reliant societies have between 20-40% less income per capita than the average Native American nation. We argue that federal Indian policy that limited out-migration from reservations and restricted employment opportunities to ...
Center for Indian Country Development series , Paper 1-2019

Working Paper
Causes and Consequences of Student-College Mismatch
Leukhina, Oksana; Hendricks, Lutz; Koreshkova, Tatyana (2023-07-18)
What are the tradeoffs of meritocratic college admissions? On one hand, stronger sorting between students and colleges may produce more human capital on aggregate if higher ability students benefit more from attending higher quality colleges. On the other hand, stronger sorting generates a higher degree of earnings inequality and reduces upward mobility. In this paper, we examine student-college sorting and study aggregate implications of redistributive college admissions policies such as affirmative action. To this end, we develop a model with heterogeneous students and college types that ...
Working Papers , Paper 2022-026

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