This paper examines the long-run effects of the 1980-1982 recession on education and income. Using confidential Census … capita in their county of birth reduces four-year college degree attainment by 10 percent and income in adulthood by 3 … graduates and $42-$87 billion less earned income per year. …

schools. In response to an increase in class size: (i) only high-income parents help their children more with homework; (ii …) all parents are more likely to move their child to another school; and (iii) only low-income children find their teachers … substitutes, and help explain why the negative effect of class size on achievement in our data is concentrated among low-income …