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Article Artículo

Workers

Part 1: Returns to Whose College Degree?

As college students head back to school and costs rise faster than inflation even using a conservative measure, it’s worth revisiting the dispute about the value of a degree. In May, David Leonhardt declared the debate closed, citing a paper by David Autor and explaining that the total cost of college is about negative $500,000 over the course of someone’s lifetime. (As Leonhardt notes, the original source for this estimate is a 2012 journal article by Avery and Turner.) To calculate the return to college, researchers basically subtract the costs of tuition and forgone wages from the average additional lifetime earnings associated with a college degree.

CEPR and Ben Wolcott / August 25, 2014

Article Artículo

Farmer’s Folly: The Sequel
In a new working paper, UCLA’s Roger Farmer responds to last year’s investigation into his claim that declines in the stock market caused the Great Recession. Farmer apparently failed to grasp the nature of the critique. In his original paper, Farmer clai

David Rosnick / August 20, 2014