Replication data for: Liquidity Constraints, Fiscal Externalities, and Optimal Tuition Subsidies
Principal Investigator(s): View help for Principal Investigator(s) Nicholas Lawson
Version: View help for Version V1
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Lawson_AEJPol-2015-0079_Data | 10/13/2019 04:04:AM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/13/2019 12:04:AM |
Project Citation:
Lawson, Nicholas. Replication data for: Liquidity Constraints, Fiscal Externalities, and Optimal Tuition Subsidies. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114633V1
Project Description
Summary:
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A large literature focuses on two important rationales for government subsidies to college students: positive fiscal externalities from a larger tax base, and liquidity constraints. This paper provides a first attempt to gauge the relative importance of these mechanisms. I use US data in combination with two modeling approaches: calibration of a simple structural model of human capital accumulation, and a "sufficient statistics" approach. The resulting optimal subsidies are larger than median public tuition by about $3,000 per year. This finding is driven by fiscal externalities; optimal tuition subsidy policy is not sensitive to the extent of liquidity constraints.
Scope of Project
JEL Classification:
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H52 National Government Expenditures and Education
H75 State and Local Government: Health; Education; Welfare; Public Pensions
I22 Educational Finance; Financial Aid
I23 Higher Education; Research Institutions
I28 Education: Government Policy
H52 National Government Expenditures and Education
H75 State and Local Government: Health; Education; Welfare; Public Pensions
I22 Educational Finance; Financial Aid
I23 Higher Education; Research Institutions
I28 Education: Government Policy
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