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Working Paper
Who Values Access to College?
Ionescu, Felicia; Vidangos, Ivan; Neelakantan, Urvi; Athreya, Kartik B. (2019-03-07)
A first glance at US data suggests that college -- given its mean returns and sharply subsidized cost for all enrollees -- could be of great value to most. Using an empirically-disciplined human capital model that allows for variation in college readiness, we show otherwise. While the top decile of valuations is indeed large (40 percent of consumption), nearly half of high school completers place zero value on access to college. Subsidies to college currently flow to those already best positioned to succeed and least sensitive to them. Even modestly targeted alternatives may therefore improve ...
Finance and Economics Discussion Series , Paper 2019-015

Report
Do colleges and universities increase their region's human capital?
Abel, Jaison R.; Deitz, Richard (2009-10-01)
We investigate whether the degree production and research and development (R&D) activities of colleges and universities are related to the amount and types of human capital present in the metropolitan areas where the institutions are located. We find that degree production has only a small positive relationship with local stocks of human capital, suggesting that migration plays an important role in the geographic distribution of human capital. Moreover, we show that spillovers from academic R&D activities tilt the structure of local labor markets toward occupations requiring innovation and ...
Staff Reports , Paper 401

Discussion Paper
Who Falters at Student Loan Payback Time?
Chakrabarti, Rajashri; Lovenheim, Michael; Morris, Kevin (2016-09-09)
This is the final post in a four-part series examining the evolution of enrollment, student loans, graduation and default in the higher education market over the course of the past fifteen years. In the first post, we found a marked increase in enrollment of 35 percent between 2000 and 2015, led mostly by the for-profit sector?which increased enrollment by 177 percent. The second post showed that these new enrollees were quite different from the traditional enrollees. Yesterday?s post demonstrated an unprecedented increase in loan origination amounts during this period?nearly tripling between ...
Liberty Street Economics , Paper 20160909

Discussion Paper
The Changing Higher Education Landscape
Lovenheim, Michael; Chakrabarti, Rajashri; Morris, Kevin (2016-09-06)
The past decade and a half has seen dramatic changes in the higher education landscape, characterized by significant growth in enrollment. This growth has been concentrated mostly in for-profit schools, where enrollment skyrocketed in the first decade of the period, nearly quadrupling between 2000 and 2011. The post-2011 period has been marked by an abatement of this growth. These patterns have strong implications not only for the higher education market but also for the labor force and the economy more broadly. Therefore, it is essential to understand the evolution of the different sectors ...
Liberty Street Economics , Paper 20160906

Briefing
College Towns and COVID-19: The Impact on New England
Sullivan, Riley (2020-06-25)
The abrupt closing of college campuses this spring due to the spread of COVID-19 upended the lives of students and their families and disrupted the higher education sector. The impact of these closures and the questions of whether and how to reopen campuses this fall have been widely discussed. Less attention has been paid to the potential consequences for the local economies of the cities and towns that depend heavily on higher education. This issue is particularly important in New England, where in many communities, colleges and universities are among the largest employers and make an ...
New England Public Policy Center Regional Brief , Paper 2020-3

Working Paper
Does Salient Financial Information Affect Academic Performance and Borrowing Behavior among College Students?
Schmeiser, Maximilian D.; Stoddard, Christiana; Urban, Carly (2015-09-10)
While rising student loan debt can plague college students future finances, few federal programs have been instituted to educate college students on the mechanics of student loan borrowing. This paper exploits a natural experiment in which some students received "Know Your Debt" letters with incentivized offers for one-on-one financial counseling. Montana State University students who reached a specific debt threshold received these letters; University of Montana students did not. We use a difference-in-difference-in-differences strategy to compare students above and below the thresholds ...
Finance and Economics Discussion Series , Paper 2015-75

Working Paper
State disinvestment in higher education: the impact on public research universities' patent applications
Zhao, Bo (2018-07-01)
While state appropriations are the largest revenue source of the U.S. public university systems, they have declined significantly over the past several decades. Surprisingly, there is little empirical work on the effect of state appropriation cuts on the research productivity of public universities. Helping fill that gap, this paper is the first to examine the role that state appropriations play in public universities? patent production. The results suggest that state appropriation cuts have a negative impact on the number of approved patent applications from public research universities. ...
Working Papers , Paper 19-2

Who Applies to and Enrolls at Selective Colleges?
Marto, Ricardo (2024-12-12)
Attending college is an investment in one’s human capital. But how does parental income impact where students apply and, ultimately, where they enroll?
On the Economy

Speech
The Cost of College
Harker, Patrick T. (2018-02-21)
Speaking at Saint Louis University in St. Louis, MO. President Harker speaks about the Cost of College.
Speech , Paper 149

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