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This paper addresses the economic returns on tertiary degrees obtained in ages above 30 for individuals with upper-secondary schooling in light of current ideas on lifelong learning. Sweden is a case in point: Swedish tertiary education is open to older students, and labor market legislation supports employees who take a leave to study. The longitudinal data used for this analysis is based on annual population level registers from 1981 to 2007. Matching techniques are combined with fixed effect estimation to account for non-random selection. Late degrees were found to increase the employment rate by 18 percentage points and earnings while employed by 12 percent, which indicates strong employment effects and small effects on earnings while employed. The effects were absent in the higher parts of the earnings distribution, and females gained more than men. The estimated effects are largely stable across periods within a birth cohort. (Contains 5 figures and 7 tables.)

While there is an extensive literature on intergenerational transmission of economic outcomes (education, health and income for example), many of the pathways through which these outcomes are transmitted are not as well understood. We address this deficit by analysing the relationship between socio-economic status and child outcomes in university, based on a rich and unique dataset of university students. While large socio-economic differences in academic performance exist at the point of entry into university, these differences are substantially narrowed during the period of study. Importantly, the differences across socio-economic backgrounds in university grade attainment for female students is explained by intermediating variables such as personality, risk attitudes and time preferences, and subject/college choices. However, for male students, we explain less than half of the socio-economic gradient through these same pathways. Despite the weakening socio-economic effect in grade attainment, a key finding is that large socio-economic differentials in the earnings expectations of university students persist, even when controlling for grades in addition to our rich set of controls. Our findings pose a sizable challenge for policy in this area as they suggest that equalising educational outcomes may not translate into equal labour market outcomes. (Contains 18 tables and 2 figures.)

This paper uses a new survey of graduates from one large civil university in the UK to examine the determinants of over-education and its subsequent impact on labour market earnings. Multiple measurements of over-education were collected to assess the effect of measurement error on the estimated pay penalty associated with over-education. Panel estimates suggest that the upward bias in standard OLS estimates is offset by an equal downward bias resulting from measurement error.

This essay describes methodological approaches and pitfalls common to studies of the economic impact of colleges and universities. Such studies often claim local benefits that imply annualized rates of return on local investment exceeding 100 percent. We address problems in these studies pertaining to the specification of the counterfactual, the definition of the local area, the identification of "new" expenditures, the tendency to double-count economic impacts, the role of local taxes, and the omission of local spillover benefits from enhanced human capital created by higher education, and offer several suggestions for improvement. If these economic impact studies were conducted at the level of accuracy most institutions require of faculty research, their claims of local economic benefits would not be so preposterous, and, as a result, trust in and respect for higher education officials would be enhanced.

This study uses the admission scores of Taiwan's Joint College Entrance Examination (JCEE) and occupational wage data to estimate the reputation values of engineering and medical schools in Taiwan. It is found that the reputation values of medical schools are more than twice those of engineering schools. It takes about 7 and 19 years of work for an average person to earn the equivalent reputation value of the best engineering school and of the best medical school, respectively. The reputation values in a sense contain a significant quantity of intangible returns from holding a degree from a certain college. This implies that the signaling effect is important if intangible returns in relation to a college education are considered.

Theoretical discussion of tuition discounting policies; explores how the marginal benefit, net the marginal cost of increased enrollment, varies across public/private institutions and across institutions with different missions. Uses simultaneous equation model to estimate the impact of tuition discounting on enrollment growth. Discusses implications of model results for enrollment and scholarship policies, particularly among private institutions. (Author/PKP)

Abstract: Undergraduate study behaviours, principally lecture attendance and additional study, are shown to predict better student achievement by many researchers. Despite this, there is not much evidence on the determinants of these behaviours. This is the first paper to explore the determinants of study behaviours across multiple subject areas; and is the first to incorporate students’ noncognitive traits into such a model; that the authors are aware of. This enables the formation of policy that can improve academic achievement by encouraging study behaviour. The results show that students’ noncognitive traits, in particular conscientiousness and future-orientation, are important determinants of lecture attendance and additional study hours. In fact, there is very little that explains undergraduate study behaviour besides noncognitive traits. Standard economic factors, such as family income, financial aid and parental transfers, are not predictive of study behaviours. Some comments are provided on a potential behavioural economics approach to encouraging study behaviours. [Copyright &y& Elsevier]

Abstract: There is a vast literature on the decision to enroll in higher education, but it focuses almost entirely on traditional students: 18 year olds graduating from high school. Yet less than half of students at degree-granting institutions are in the traditional 18–22 age range; nearly 40% are at least 25. This paper examines the enrollment behavior of persons 25 or older. We use data from a large-scale 1998 Department of Labor (DOL) policy demonstration in Greater Baltimore. By studying the behavior of older people we can examine factors such as age, earnings and marital status that vary little among the much-studied traditional students. Our results conform to the (rarely tested) predictions of human capital theory that age and opportunity costs are impediments to enrollment. We also find that where you live has a substantial impact on whether you return to school. [Copyright &y& Elsevier]

Abstract: We study student loan behavior in the Netherlands where (i) higher education students know little about the conditions of the government''s financial aid program and (ii) take-up rates are low. In a field experiment we manipulated the amount of information students have about these conditions. The treatment has no impact on loan take-up, which is not due to students already having decided to take a loan or students not absorbing the information. We conclude that a lack of knowledge about specific policy parameters does not necessarily imply a binding information constraint. [Copyright &y& Elsevier]

Abstract: This paper analyzes the effects of a higher education accountability system in Brazil. For each discipline, colleges were assigned a grade that depended on the scores of their students on the ENC, an annual mandatory exam. These grades were then disclosed to the public and colleges were rewarded or penalized based on them. I find that the ENC had a positive effect on the education and the proportion of full-time faculty and that it increased the number of vacancies offered, applicants and enrollments. Colleges were affected differently depending on grades, ownership and academic organization, changing the distribution of students among them. [ABSTRACT FROM AUTHOR]

This paper uses a policy change involving statewide school district refinancing in Kansas during the early 1990s to identify the relationship between per-pupil expenditure and the probability that a student will progress to higher education. Kansas’s school district refinancing was intended to equalize per-pupil expenditure conditional on a measure of cost developed by the state. This equalization process resulted in a change in spending that, although not completely exogenous, is understood well enough that an unbiased estimate of the effect of spending on students’ post-secondary destinations can be made. Since additional years of education are known to increase lifetime earnings, a simple cost-benefit analysis of a hypothetical spending increase is considered. [Copyright &y& Elsevier]