Educational Attainment and Cohort Size | Zendy

David C. Stapleton | Zendy; Douglas Young | Zendy

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Educational Attainment and Cohort Size

Author(s) -

David C. Stapleton,

Douglas Young

Publication year - 1988

Publication title -

journal of labor economics

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 8.184

H-Index - 109

eISSN - 1537-5307

pISSN - 0734-306X

DOI - 10.1086/298186

Subject(s) - earnings , educational attainment , economics , boom , baby boom , incentive , cohort , labour economics , demographic economics , economic growth , demography , sociology , medicine , population , microeconomics , finance , environmental engineering , engineering

"We argue that the postwar baby boom [in the United States] caused substantial fluctuations in both the economic rewards to education and educational attainment over the last 3 decades. If substitutability between young and old workers diminishes with education, the present value of lifetime earnings for a boom cohort is depressed more for highly educated workers, reducing incentives for educational attainment. The opposite is true for pre- and postboom cohorts. The diminishing substitutability hypothesis explains the declines in both the returns to college and college completion rates in the 1970s and predicts a substantial increase in educational attainment for postboomers."

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