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Author(s):Michael P. Shields
Title:Why Should State Government Invest in College Education? An Equilibrium Approach for th US in 2000
Date:June 2008
Organization:Institute for the Study of Labor
Short Description:Econometric modeling paper supporting the idea of positive externalities due to college education. Indicates that one percentage point increase in the percent of a state's work force that has graduated college will increase the average wage income of all workers in the state by a little more than $500. Suggests state investement levels in education are suboptimal.
Annotation:Short econometric modeling paper that looks at quantifying the benefits of education. Posits that college education is highly subsidized in the US and that college education indirectly creates production externalities due to the higher average level of education of the labor force. A very large optimal subsidy is suggested. --MS
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Associated Keywords:
Econometric modeling

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