Changes in Relative Ability as a Determinant of the U.S. College Premium

IF 0.7 Q3 ECONOMICS Review of Economic Analysis Pub Date : 2015-11-27 DOI:10.15353/rea.v7i1.1486
D. Martin, Yongli Zhang
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Abstract

We develop a macroeconomic framework to estimate the importance of fluctuations in relative ability in accounting for trends in the college premium in the United States since 1965. The theoretical scaffolding is a heterogeneous agent model with two dimensions of ability and endogenous schooling choice, with exogenous skill-biased technological change (SBTC), college tuition, and noneconomic social forces. We solve for conditions under which SBTC reduces the relative ability of college educated workers, and show that these conditions are met in the data. We attribute the drop in the college premium over the 1970s to a 25.5% drop in the mean relative quality of college-educated workers from 1968 to 1977. We find that SBTC explains about two thirds of the increase in college attendance since 1965, and that absent both supply shifts and a supply response to SBTC, the relative wage of highly educated workers would have been 77.1% larger in 2013.
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相对能力的变化作为美国大学优势的决定因素
我们开发了一个宏观经济框架来估计自1965年以来美国大学溢价趋势中相对能力波动的重要性。理论框架是一个具有能力和内生学校选择两个维度的异质主体模型,外生技能偏倚技术变革(SBTC)、大学学费和非经济社会力量。我们求解了SBTC降低高学历工人相对能力的条件,并在数据中证明了这些条件是满足的。我们将上世纪70年代大学学历溢价的下降归因于1968年至1977年受过大学教育的工人的平均相对质量下降了25.5%。我们发现,自1965年以来,SBTC解释了大约三分之二的大学入学率增长,如果没有供给转移和对SBTC的供给响应,高学历工人的相对工资在2013年将高出77.1%。
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来源期刊
CiteScore
1.10
自引率
0.00%
发文量
10
审稿时长
26 weeks
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