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http://hdl.handle.net/10419/21423
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| Title: | | The Evidence on Credit Constraints in Post-Secondary Schooling  |
| Authors: | | Carneiro, Pedro Heckman, James Joseph |
| Issue Date: | | 2002 |
| Series/Report no.: | | IZA Discussion paper series 518 |
| Abstract: | | This paper examines the family income?college enrollment relationship and the evidence on credit constraints in post-secondary schooling. We distinguish short-run liquidity constraints from the long-term factors that promote cognitive and noncognitive ability. Long-run factors crystallized in ability are the major determinants of the family income?schooling relationship, although there is some evidence that up to 8% of the U.S. population is credit constrained in a short-run sense. Evidence that IV estimates of the returns to schooling exceed OLS estimates is sometimes claimed to support the existence of substantial credit constraints. This argument is critically examined. |
| Subjects: | | human capital return to education credit constraints |
| JEL: | | H43 D33 I28 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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| dp518.pdf | | 1.12 MB | Adobe PDF |
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