Trends in Quality-Adjusted Skill Premia in the United States, 1960

Trends in Quality-Adjusted Skill Premia in the United States, 1960–2000

Published:2011-10-01 Issue:6 Volume:101 Page:2309-2349
ISSN:0002-8282
Container-title:American Economic Review
language:en
Short-container-title:American Economic Review

Author:

Carneiro Pedro¹,Lee Sokbae²

Affiliation:

1. Department of Economics, University College London, Gower Street, London WC1E 6BT, United Kingdom, CeMMAP, and the Institute for Fiscal Studies.

2. Department of Economics, Seoul National University, 599 Gwanak-ro, Gwanak-gu, Seoul, 151-742, Republic of Korea, CeMMAP, and the Institute for Fiscal Studies.

Abstract

This paper presents new evidence that increases in college enrollment lead to a decline in the average quality of college graduates between 1960 and 2000, resulting in a decrease of 6 percentage points in the college premium. A standard demand and supply framework can qualitatively account for the trend in the college and age premia over this period, but substantial quantitative adjustments are needed to account for changes in quality. (JEL I23, J24, J31)

Publisher

American Economic Association

Subject

Economics and Econometrics

Link

https://pubs.aeaweb.org/doi/pdf/10.1257/aer.101.6.2309

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