The overall aim of the article is to discuss different ways of assessing and handling performance differences of higher education institutions caused by varying initial conditions with regard to the student populations' diversity. We introduce and compare two approaches we expect worthwhile...

This paper studies how the portfolio allocation of college savings affects children's college attendance and student debt using novel data on 529 college savings accounts linked with student-level longitudinal data. Employing exogenous variation in the portfolio allocation of 529 accounts driven...

For workers employed in the public and non-profit sectors, the Public Service Loan Forgiveness (PSLF) program offers the potential for full forgiveness of federal student loans for those with 10-years of full-time work experience. In practice, the benefits of the PSLF program have been illusory...

The paper studies the impact of financial aid on long-term educational attainment and labor market outcomes in Colombia. In 2014, the government launched a large-scale and generous student loan program called "Ser Pilo Paga." It offered full tuition coverage to students admitted to one of 33...

This paper examines how private college and university endowments affect financial aid, admissions selectivity, and the economic and racial composition of incoming students. Because endowment levels are a function of expenditures and alumni giving, which are endogenous to the outcomes of...

Intergovernmental fiscal frameworks usually reflect fundamental societal choices and history and are not foremost geared towards achieving economic policy objectives. Yet, like most institutional arrangements, fiscal relations affect the behaviour of firms, households and governments and thereby...

Intergovernmental fiscal frameworks usually reflect fundamental societal choices and history and are not foremost geared towards achieving economic policy objectives. Yet, like most institutional arrangements, fiscal relations affect the behaviour of firms, households and governments and thereby...

The interregional mobility of high-skilled workers may induce an underinvestment in local public higher education when subfederal entities independently decide on education expenditures to maximize local output. This well-known result, which is due to a positive interregional spillover of local...

The existing literature on the relationship between the share of elderly in a community and the support for local public education has led to mixed results to date. One potential reason behind this is that the share of elderly in a community is endogenous, and it is very difficult to disentangle...