Using data from the U.S. Census and the National Longitudinal Surveys, the authors find little evidence of differences in the economic value of education across racial and ethnic groups, even with attempts to control for ability and measurement error biases. As a result, they argue, policies...

Affordable higher education is, and has been, a key element of social policy in the United States with broad bipartisan support. Financial aid has substantially increased the number of people who complete university—generally thought to be a good thing. We show, however, that making education...

Tuition and student debt have skyrocketed, but higher education still pays off.

Remarks at the Hispanic Economic Experience Conference, Dallas, Texas, June 16, 2011 ; "In Texas, as anywhere else in the United States and in all capitalist societies, "you earn what you learn." Every study known to man, and plain common sense, tells you that income is directly correlated to...

Immigrants have figured prominently in U.S. economic growth for decades, but the recent recession hit them hard. Immigrants’ labor market outcomes began deteriorating even before the recession was officially under way, largely as a result of the housing bust. An analysis of employment and...

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the New England Board of Higher Education's "New England Works" summit on bridging higher education and the workforce, Boston, Massachusetts, November 7, 2011

Remarks before the Texas Economic Development Council Annual Conference, Dallas, Texas, October 6, 2011 ; "We must not lose track of this simple, unalterable, indisputable, critical fact: We have done well so far; our economy is mighty. But to stay ahead of the curve and compete in tomorrow’s...

This paper presents a dynamic model of the decision to pursue a college education in which students face uncertainty about their future income stream after graduation due to unobserved heterogeneity in their innate scholastic ability. After students matriculate and start taking exams, they...

The authors focus on the relationship between being a college graduate (that is, having a bachelor’s degree or higher) and household location in the city of Chicago’s lakefront neighborhoods, other parts of the city, and the suburbs in Illinois. Overall, their results indicate that being a...