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Briefing
The Pandemic’s Effects on Children’s Education
Pinto, Santiago (2023-08)
School closures and switches to hybrid/virtual learning due to the pandemic adversely affected student achievement through several channels, including a decline in skill accumulation and a disruption of peer effects and peer-group formation.Preliminary evidence suggests that losses took place early in the pandemic and that there has not been an apparent recovery. Also, the impact on students has been far from uniform, as economic losses tend to fall more deeply on younger students and students from disadvantaged backgrounds.Simply returning schools and instructional practices to where they ...
Richmond Fed Economic Brief , Volume 23 , Issue 29

Working Paper
Human Capital and Unemployment Dynamics: Why More Educated Workers Enjoy Greater Employment Stability
Cairó, Isabel; Cajner, Tomaz (2014-02)
Why do more educated workers experience lower unemployment rates and lower employment volatility? A closer look at the data reveals that these workers have similar job finding rates, but much lower and less volatile separation rates than their less educated peers. We argue that on-the-job training, being complementary to formal education, is the reason for this pattern. Using a search and matching model with endogenous separations, we show that investments in match-specific human capital reduce the outside option of workers, implying less incentives to separate. The model generates ...
Finance and Economics Discussion Series , Paper 2014-09

Why Human Capital Matters Why Human Capital Matters
Monge-Naranjo, Alexander (2020-10-13)
An economist at the St. Louis Fed discusses the growing importance of human capital in determining a nation’s income.
On the Economy

Working Paper
Achievement Gap Estimates and Deviations from Cardinal Comparability
Nielsen, Eric R. (2015-05-12)
This paper assesses the sensitivity of standard empirical methods for measuring group differences in achievement to violations in the cardinal comparability of achievement test scores. The paper defines a distance measure over possible weighting functions (scalings) of test scores. It then constructs worst-case bounds for the bias in the estimated achievement gap (or achievement gap change) that could result from using the observed rather than the true test scale, given that the true and observed scales are no more than a fixed distance from each other. The worst-case weighting functions have ...
Finance and Economics Discussion Series , Paper 2015-40

Discussion Paper
Diplomas to Doorsteps: Education, Student Debt, and Homeownership
Chakrabarti, Rajashri; Gorton, Nicole; Van der Klaauw, Wilbert (2017-04-03)
Evidence overwhelmingly shows that the average earnings premium to having a college education is high and has risen over the past several decades, in part because of a decline in real average earnings for those without a college degree. In addition to high private returns, there are substantial social returns to having a well-educated citizenry and workforce. A new development that may have important longer-term implications for education investment and for the broader economy is a significant change in the financing of higher education. State funding has declined markedly over the past two ...
Liberty Street Economics , Paper 20170403

Working Paper
Marriage Market Sorting in the U.S.
Cheremukhin, Anton A.; Restrepo-Echavarria, Paulina; Tutino, Antonella (2023-09)
We study the multidimensional sorting of males and females in the U.S. marriage market over the past decade using a model of targeted search. We find strong vertical sorting on income and education, and horizontal sorting on race. We find that women put significant effort into targeting men at the top of the desirability scale, while men put less effort and target women with similar characteristics. We find no improvement in quality of matching and no noticeable changes in sorting patterns or individual search behavior, despite rapid improvement in search technology. Finally, we find that ...
Working Papers , Paper 2023-023

Working Paper
The Impact of Racial Segregation on College Attainment in Spatial Equilibrium
Gregory, Victoria; Kozlowski, Julian; Rubinton, Hannah (2022-10-12)
We incorporate race into an overlapping-generations spatial-equilibrium model with neighborhood spillovers. Race matters in two ways: (i) the Black-White wage gap and (ii) homophily—the preferences of individuals over the racial composition of their neighborhood. We find that these two forces generate a Black-White college gap of 22 percentage points, explaining about 80% of the college gap in the data for the St. Louis metro area. Counterfactual exercises show that the wage gap and homophily explain 7 and 18 percentage points of the college gap, respectively. A policy of equalizing school ...
Working Papers , Paper 2022-036

Journal Article
The Post-9/11 GI Bill
Wells, Matthew (2022-04)
In 2008, Congress passed and President George W. Bush signed the largest expansion of federal education aid to veterans since the original GI Bill at the end of World War II. Under the Post-9/11 Veterans' Educational Assistance Act of 2008, commonly known as the Post-9/11 GI Bill, service members who served at least 90 days on active duty after Sept. 10, 2001, or their dependents, are entitled to up to 36 months of educational assistance to pursue higher education. Depending on the program, they can receive education or job training tuition, books, and fees, as well as a monthly housing ...
Econ Focus , Issue 2Q , Pages 4-8

Journal Article
On the record: Texas students often lack skills, financial knowledge for college success
Weiss, Michael (2014-04)
Jeff Webster is assistant vice president for research and analytical services for TG (Texas Guaranteed Student Loan Corp.), a nonprofit that promotes educational access and administers the Federal Family Education Loan Program. He has studied student loan default, debt burden and student retention.
Southwest Economy , Issue Q2 , Pages 8-9

Working Paper
K–12 Schools in Ohio Are Separate and Unequal
Aliprantis, Dionissi; Jayaram, Mukund (2023-10-16)
Schools are one of the main determinants of lifetime employment and wages. In the 1950s and 60s, many Black leaders were concerned that Supreme Court rulings outlawing the racial segregation of schools might not effectively eliminate school segregation. This Economic Commentary uses data from Ohio to show that, even today, Black and white students attend largely separate K–12 schools that provide unequal educational opportunity.
Working Papers , Paper 2023-16

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