New Directions in the Economics of Higher Education

Edited by Ludger Woessmann, Professor of Economics and Director, ifo Center for the Economics of Education, University of Munich, Germany and Eric Bettinger, Professor of Education and Economics, Stanford University, US

• Contents:Volume IAcknowledgementsIntroduction Ludger Woessmann and Eric BettingerPART IRETURNS TO HIGHER EDUCATIONA. General Returns1.Claudia Goldin and Lawrence F. Katz (2008), ‘The Race between Education and Technology’, in The Race between Education and Technology, Chapter 8, Appendix D.1, [notes and references], London, UK and Massachusetts, USA: Harvard University Press, 287–3232.David H. Autor, Frank Levy and Richard J. Murnane (2003), ‘The Skill Content of Recent Technological Change: An Empirical Exploration’, Quarterly Journal of Economics, 118 (4), November, 1279–333[55]3.David Card (2001), ‘Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems’, Econometrica, 69 (5), September, 1127–60[34]4.Pedro Carneiro, James J. Heckman and Edward J. Vytlacil (2011), ‘Estimating Marginal Returns to Education’, American Economic Review, 101 (6), October, 2754–81 [28]5.Philip Oreopoulos and Uros Petronijevic (2013), ‘Making College Worth It: A Review of the Returns to Higher Education’, The Future of Children, 23 (1), Spring, 41–65[25]B.Non-pecuniary Returns, Signalling, and Consumption6.Janet Currie and Enrico Moretti (2003), ‘Mother’s Education and the Intergenerational Transmission of Human Capital: Evidence from College Openings’, Quarterly Journal of Economics, 118 (4), November, 1495–532[38]7.Carolina Arteaga (2018), ‘The Effect of Human Capital on Earnings: Evidence from a Reform at Colombia's Top University’, Journal of Public Economics, 157, 212–25[14]8.Brian Jacob, Brian McCall and Kevin Stange (2018), ‘College as Country Club: Do Colleges Cater to Students’ Preferences for Consumption?’, Journal of Labor Economics, 36 (2), December, 309–48[40]C.Heterogeneity in Returns9.Thomas J. Kane and Cecelia Elena Rouse (1995), ‘Labor-Market Returns to Two and Four Year College’, American Economic Review, 85 (3), June, 600–14[15]10.Mark Hoekstra (2009), ‘The Effect of Attending the Flagship State University on Earnings: A Discontinuity-Based Approach’, Review of Economics and Statistics, 91 (4), 717–24[8]11.Seth D. Zimmerman (2014), ‘The Returns to College Admission for Academically Marginal Students’, Journal of Labor Economics, 32 (4), 711–54[44]12.David J. Deming, Noam Yuchtman, Amira Abulafi, Claudia Goldin and Lawrence F. Katz (2016), ‘The Value of Postsecondary Credentials in the Labor Market: An Experimental Study’, American Economic Review, 106 (3), March, 778–806[29]D.Fields of Study13.Joseph G. Altonji, Erica Blom and Costas Meghir (2012), ‘Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers’, Annual Review of Economics, 4, 185–223[39]14.Lars J. Kirkeboen, Edwin Leuven and Magne Mogstad (2016), ‘Field of Study, Earnings, and Self-selection’, Quarterly Journal of Economics, 131 (3), 1057–112[56]15.Matthew Wiswall and Basit Zafar (2015), ‘Determinants of College Major Choice: Identification using an Information Experiment’, Review of Economic Studies, 82 (2), April, 791–824[34]E.Social Returns16.Enrico Moretti (2004), ‘Workers' Education, Spillovers, and Productivity: Evidence from Plant-Level Production Functions’, American Economic Review, 94 (3), June, 656–90[35]17.Adam B. Jaffe (1989), ‘Real Effects of Academic Research’, American Economic Review, 79 (5), December, 957–70[14]18.Otto Toivanen and Lotta Väänänen (2016), ‘Education and Invention’, Review of Economics and Statistics, 98 (2), 382–96[15]PART IICOLLEGE ATTENDANCE AND COMPLETION [402 pp]A. College Attendance19.John Bound, Michael F. Lovenheim and Sarah Turner (2010), ‘Why Have College Completion Rates Declined? An Analysis of Changing Student Preparation and Collegiate Resources’, American Economic Journal: Applied Economics, 2 (3), July, 129–57[29]20.Kevin M. Stange (2012), ‘An Empirical Investigation of the Option Value of College Enrollment’, American Economic Journal: Applied Economics, 4 (1), January, 49–84[36]21.Paco Martorell and Isaac McFarlin Jr. (2011), ‘Help or Hindrance? The Effects of College Remediation on Academic and Labor Market Outcomes’, Review of Economics and Statistics, 93 (2), May, 436–54[19]B.Affirmative Action22.Peter Arcidiacono (2005), ‘Affirmative Action in Higher Education: How Do Admission and Financial Aid Rules Affect Future Earnings?’, Econometrica, 73 (5), September, 1477–524[48]23.Peter Arcidiacono, Esteban M. Aucejo and V. Joseph Hotz (2016), ‘University Differences in the Graduation of Minorities in STEM Fields: Evidence from California’, American Economic Review, 106 (3), March, 525–62[38]24.Surendrakumar Bagde, Dennis Epple and Lowell Taylor (2016), ‘Does Affirmative Action Work? Caste, Gender, College Quality, and Academic Success in India’, American Economic Review, 106 (6), June, 1495–521[27]C.Behavioral Interventions25.Susan M. Dynarski and Judith E. Scott-Clayton (2006), ‘The Cost of Complexity in Federal Student Aid: Lessons from Optimal Tax Theory and Behavioral Economics’, National Tax Journal, 59 (2), June, 319–56[38]26.Eric P. Bettinger, Bridget Terry Long, Philip Oreopoulos and Lisa Sanbonmatsu (2012), ‘The Role of Application Assistance and Information in College Decisions: Results from the H&R Block Fafsa Experiment’, Quarterly Journal of Economics, 127 (3), 1205–242[38]27.Caroline M. Hoxby and Sarah Turner (2015), ‘What High-Achieving Low-Income Students Know About College’, American Economic Review, 105 (5), May, 514–17[4]28.Benjamin L. Castleman and Lindsay C. Page (2016), ‘Freshman Year Financial Aid Nudges: An Experiment to Increase FAFSA Renewal and College Persistence’, Journal of Human Resources, 51 (2), Spring, 389–415[27]29.Sarena Goodman (2016), ‘Learning from the Test: Raising Selective College Enrollment by Providing Information’, Review of Economics and Statistics, 98 (4), October, 671–84[14]D.Incentives30.Joshua D. Angrist, Daniel Lang and Philip Oreopoulos (2009), ‘Incentives and Services for College Achievement: Evidence from a Randomized Trial’, American Economic Journal: Applied Economics, 1 (1), January, 136–63[28]31.Judith Scott-Clayton (2011), ‘On Money and Motivation: A Quasi-Experimental Analysis of Financial Incentives for College Achievement’, Journal of Human Resources, 46 (3), 614–46[33]32.Edwin Leuven, Hessel Oosterbeek and Bas van der Klaauw (2010), ‘The Effect of Financial Rewards on Students' Achievement: Evidence from a Randomized Experiment’, Journal of the European Economic Association, 8 (6), 1243–65[23]Volume IIAcknowledgementsIntroduction An Introduction by the editors appear in Volume IPART IHIGHER EDUCATION FINANCING [482 pp]A. Costs and Tuition1.Thomas J. Kane, Peter R. Orszag, Emil Apostolov and Robert P. Inman (2005), ‘Higher Education Appropriations and Public Universities: Role of Medicaid and the Business Cycle’, Brookings-Wharton Papers on Urban Affairs, 99–146[48]2.Stephanie Riegg Cellini and Claudio Goldin (2014), ‘Does Federal Student Aid Raise Tuition? New Evidence on For-Profit Colleges’, American Economic Journal: Economic Policy, 6 (4), November, 174–206[33]3.Pietro Garibaldi, Francesco Giavazzi, Andrea Ichino and Enrico Rettore (2012), ‘College Cost and Time to Complete a Degree: Evidence from Tuition Discontinuities’, Review of Economics and Statistics, 94 (3), August, 699–711[13]4.Jeffrey T. Denning (2017), ‘College on the Cheap: Consequences of Community College Tuition Reductions’, American Economic Journal: Economic Policy, 9 (2), May, 155–88[34]B. Student Aid5.Susan M. Dynarski (2003), ‘Does Aid Matter? Measuring the Effect of Student Aid on College Attendance and Completion’, American Economic Review, 93 (1), March, 279–88[10]6.Wilbert Van Der Klaauw (2002), ‘Estimating the Effect of Financial Aid Offers on College Enrollment: A Regression-Discontinuity Approach’, International Economic Review, 43 (4), November, 1249–87[39]7.Sarah R. Cohodes and Joshua S. Goodman (2014), ‘Merit Aid, College Quality, and College Completion: Massachusetts’ Adams Scholarship as an In-Kind Subsidy’, American Economic Journal: Applied Economics, 6 (4), October, 251–85[35]8.Gabrielle Fack and Julien Grenet (2015), ‘Improving College Access and Success for Low-Income Students: Evidence from a Large Need-Based Grant Program’, American Economic Journal: Applied Economics, 7 (2), April, 1–34[34]9.Benjamin M. Marx and Lesley J. Turner (2018), ‘Borrowing Trouble? Human Capital Investment with Opt-in Costs and Implications for the Effectiveness of Grant Aid’, American Economic Journal: Applied Economics, 10 (2), April, 163–201[39]C. Student Loans and Credit Constraints10.Pedro Carneiro and James Heckman (2002), ‘The Evidence on Credit Constraints in Post-Secondary Schooling’, Economic Journal, 112 (482), October, 705–34[30]11.Lance J. Lochner and Alexander Monge-Naranjo (2011), ‘The Nature of Credit Constraints and Human Capital’, American Economic Review, 101 (6), October, 2487–529[43]12.Ralph Stinebrickner and Todd Stinebrickner (2008), ‘The Effect of Credit Constraints on the College Drop-out Decision: A Direct Approach Using a New Panel Study’, American Economic Review, 98 (5), December, 2163–84[22]13.Harald Beyer, Justine Hastings, Christopher Neilson and Seth Zimmerman (2015), ‘Connecting Student Loans to Labor Market Outcomes: Policy Lessons from Chile’, American Economic Review, 105 (5), May, 508–13[6]14.Alex Solis (2017), ‘Credit Access and College Enrollment’, Journal of Political Economy, 125 (2), April, 562–622[61]15.Michael F. Lovenheim and C. Lockwood Reynolds (2013), ‘The Effect of Housing Wealth on College Choice: Evidence from the Housing Boom’, Journal of Human Resources, 48 (1), 1–35[35]PART IIEDUCATIONAL PRODUCTION [314 pp]A. Faculty16.Scott E. Carrell and James E. West (2010), ‘Does Professor Quality Matter? Evidence from Random Assignment of Students to Professors’, Journal of Political Economy, 118 (3), June, 409–32[24]17.Robert W. Fairlie, Florian Hoffmann and Philip Oreopoulos (2014), ‘A Community College Instructor like Me: Race and Ethnicity Interactions in the Classroom’, American Economic Review, 104 (8), August, 2567–91[25]18.David N. Figlio, Morton O. Schapiro and Kevin B. Soter (2015), ‘Are Tenure Track Professors Better Teachers?’, Review of Economics and Statistics, 97 (4), October, 715–24[10]B. Online Education19.Eric P. Bettinger, Lindsay Fox, Susanna Loeb and Eric S. Taylor (2017), ‘Virtual Classrooms: How Online College Courses Affect Student Success’, American Economic Review, 107 (9), September, 2855–75[21]20.Robert W. Fairlie and Rebecca A. London (2012), ‘The Effects of Home Computers on Educational Outcomes: Evidence from a Field Experiment with Community College Students’, Economic Journal, 122 (561), June, 727–53[27]C. Peer Effects21.Bruce Sacerdote (2001), ‘Peer Effects with Random Assignment: Results for Dartmouth Roommates’, Quarterly Journal of Economics, 116 (2), May, 681–704[24]22.Scott E. Carell, Bruce I. Sacerdote and James E. West (2013), ‘From Natural Variation to Optimal Policy? The Importance of Endogenous Peer Group Formation’, Econometrica, 81 (3), May, 855–82[28]23.Adam S. Booij, Edwin Leuven and Hessel Oosterbeek (2017), ‘Ability Peer Effects in University: Evidence from a Randomized Experiment’, Review of Economic Studies, 84 (2), 547–78[32]D. Knowledge Production24.Fabian Waldinger (2016), ‘Bombs, Brains, and Science: The Role of Human and Physical Capital for the Creation of Scientific Knowledge’, Review of Economics and Statistics, 98 (5), December, 811–31[21]25.Pierre Azoulay, Joshua S. Graff Zivin and Jialan Wang (2010), ‘Superstar Extinction’, Quarterly Journal of Economics, 125 (2), May, 549–89[41]26.George J. Borjas and Kirk B. Doran (2012), ‘The Collapse of the Soviet Union and the Productivity of American Mathematicians’, Quarterly Journal of Economics, 127 (3), 1143–203[61]PART IIITHE MARKET FOR HIGHER EDUCATION [162 pp]A. Higher Education as an Industry27.Gordon C. Winston (1999), ‘Subsidies, Hierarchy and Peers: The Awkward Economics of Higher Education’, Journal of Economic Perspectives, 13 (1), Winter, 13–36[24]28.Ronald G. Ehrenberg (2012), ‘American Higher Education in Transition’, Journal of Economic Perspectives, 26 (1), Winter, 193–216[24]29.Caroline M. Hoxby (2015), ‘Endowment Management Based on a Positive Model of the University’ in Jeffrey R. Brown, Caroline M. Hoxby (eds), How the Financial Crisis and Great Recession Affected Higher Education, Chapter 1, Chicago, USA: University of Chicago Press, 15–41[27]B. Competition and General Equilibrium30.Dennis Epple, Richard Romano and Holger Sieg (2006), ‘Admission, Tuition, and Financial Aid Policies in the Market for Higher Education’, Econometrica, 74 (4), 885–928[44]31.Chistopher N. Avery, Mark E. Glickman, Caroline M. Hoxby and Andrew Metrick (2013), ‘A Revealed Preference Ranking of U.S. Colleges and Universities’, Quarterly Journal of Economics, 128 (1), 425–67[43]Index