Arbeitspapier

The return to college: Selection and dropout risk

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This paper studies the effect of graduating from college on lifetime earnings. We develop a quantitative model of college choice with uncertain graduation. Departing from much of the literature, we model in detail how students progress through college. This allows us to parameterize the model using transcript data. College transcripts reveal substantial and persistent heterogeneity in students' credit accumulation rates that are strongly related to graduation outcomes. From this data, the model infers a large ability gap between college graduates and high school graduates that accounts for 54% of the college lifetime earnings premium.

Language: Englisch

Bibliographic citation: Series: CFS Working Paper Series ; No. 487

Classification: Wirtschaft
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Human Capital; Skills; Occupational Choice; Labor Productivity
Analysis of Education

Subject: Education
College premium
College dropout risk

Event: Geistige Schöpfung

(who): Hendricks, Lutz
Leukhina, Oksana

Event: Veröffentlichung

(who): Goethe University Frankfurt, Center for Financial Studies (CFS)

(where): Frankfurt a. M.

(when): 2014

Handle: http://hdl.handle.net/10419/103458

URN: urn:nbn:de:hebis:30:3-353107

Last update: 10.03.2025, 11:44 AM CET

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Object type

Arbeitspapier

Associated

Hendricks, Lutz
Leukhina, Oksana
Goethe University Frankfurt, Center for Financial Studies (CFS)

Time of origin

2014

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