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Interpreting the Evidence on Life Cycle Skill Formation

Cunha, Flavio; Lochner, Lance; Heckman, James J.; … - National Bureau of Economic Research (NBER) - 2005

This paper presents economic models of child development that capture the essence of recent findings from the empirical literature on skill formation. The goal of this essay is to provide a theoretical framework for interpreting the evidence from a vast empirical literature, for guiding the next...

Persistent link: https://www.econbiz.de/10005084486

The Nature of Credit Constraints and Human Capital

Lochner, Lance; Monge-Naranjo, Alexander - National Bureau of Economic Research (NBER) - 2008

This paper studies the nature and impact of credit constraints in the market for human capital. We derive endogenous constraints from the design of government student loan programs and from the limited repayment incentives in private lending markets. These constraints imply cross-sectional...

Persistent link: https://www.econbiz.de/10005720573

Leveling Up: Early Results from a Randomized Evaluation of Post-Secondary Aid

Angrist, Joshua; Autor, David; Hudson, Sally; Pallais, … - National Bureau of Economic Research (NBER) - 2014

Does financial aid increase college attendance and completion? Selection bias and the high implicit tax rates imposed by overlapping aid programs make this question difficult to answer. This paper reports initial findings from a randomized evaluation of a large privately-funded scholarship...

Persistent link: https://www.econbiz.de/10011119803

Credit Constraints in Education

Lochner, Lance; Monge-Naranjo, Alexander - National Bureau of Economic Research (NBER) - 2011

We review studies of the impact of credit constraints on the accumulation of human capital. Evidence suggests that credit constraints are increasingly important for schooling and other aspects of households' behavior. We highlight the importance of early childhood investments, since their...

Persistent link: https://www.econbiz.de/10009294899

Early and Late Human Capital Investments, Borrowing Constraints, and the Family

Caucutt, Elizabeth; Lochner, Lance - National Bureau of Economic Research (NBER) - 2012

stages. We use this calibrated model to study the effects of education subsidies, loans and transfers offered at different …

Persistent link: https://www.econbiz.de/10010584458

Student Loans and Repayment: Theory, Evidence and Policy

Lochner, Lance; Monge-Naranjo, Alexander - National Bureau of Economic Research (NBER) - 2015

Rising costs of and returns to college have led to sizeable increases in the demand for student loans in many countries. In the U.S., student loan default rates have also risen for recent cohorts as labor market uncertainty and debt levels have increased. We discuss these trends as well as...

Persistent link: https://www.econbiz.de/10011123617

The Importance of Financial Resources for Student Loan Repayment

Lochner, Lance; Stinebrickner, Todd R.; Suleymanoglu, Utku - National Bureau of Economic Research (NBER) - 2013

Government student loan programs must balance the need to enforce repayment among borrowers who can afford to make their payments with some form of forgiveness or repayment assistance for those who cannot. Using unique survey and administrative data from the Canada Student Loan Program, we show...

Persistent link: https://www.econbiz.de/10010950866

Post-Secondary Attendance by Parental Income in the U.S. and Canada: What Role for Financial Aid Policy?

Lochner, Lance; Belley, Philippe; Frenette, Marc - National Bureau of Economic Research (NBER) - 2011

This paper examines the implications of tuition and need-based financial aid policies for family income - post-secondary (PS) attendance relationships. We first conduct a parallel empirical analysis of the effects of parental income on PS attendance for recent high school cohorts in both the...

Persistent link: https://www.econbiz.de/10009226935

Default and Repayment Among Baccalaureate Degree Earners

Lochner, Lance; Monge-Naranjo, Alexander - National Bureau of Economic Research (NBER) - 2014

More than low default rates, lenders are interested in the expected return on their loans. In this paper, we consider a number of other measures of repayment and nonpayment that are likely to be of direct interest to lenders. Using data from the Baccalaureate and Beyond Longitudinal Study, we...

Persistent link: https://www.econbiz.de/10010796718

Non-Production Benefits of Education: Crime, Health, and Good Citizenship

Lochner, Lance - National Bureau of Economic Research (NBER) - 2011

A growing body of work suggests that education offers a wide-range of benefits that extend beyond increases in labor … market productivity. Improvements in education can lower crime, improve health, and increase voting and democratic … participation. This chapter reviews recent developments on these 'non-production' benefits of education with an emphasis on …

Persistent link: https://www.econbiz.de/10008804659