Conzelmann, Johnathan G.; Hemelt, Steven W.; Hershbein, Brad - 2024
How does postsecondary human capital investment respond to changes in labor market skill demand? We quantify the …-major-specific labor demand, and corresponding shift-share instrument, that combines job ads with alumni locations. We find that ….3, generally increasing with time horizon. We provide evidence that both student demand and institutional supply-side constraints …