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首页> 外文期刊>Journal of Economic Dynamics and Control >The slowdown in American educational attainment
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The slowdown in American educational attainment

机译：美国教育水平的下降

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Relative to those for high school graduates, lifetime earnings for college graduates are higher for more recent cohorts. At the same time, across successive cohorts born after 1950, there is a stagnation in the fraction of high school graduates that go on to complete a college degree. What explains this phenomenon? I formulate a life-cycle model of human capital accumulation in college and on the job, where successive cohorts decide whether or not to acquire a college degree as well as the quality of their college educatioa Cohorts differ by the sequence of rental price per unit of human capital they face and by the distribution of initial human capital across individuals. My model reproduces the observed pattern in college attainment for the 1920-1970 birth cohorts. The stagnation in college attainment is due to the decrease in the growth rate of the rental price per unit of human capital commencing in the 1970s. My model also generates about 80% of the increase in lifetime earnings for college graduates relative to those for high school graduates observed across cohorts.
机译：相对于高中毕业生，最近一批大学毕业生的终生收入更高。同时，在1950年以后出生的接班人中，高中毕业生继续完成大学学位的比例停滞不前。是什么解释了这种现象？我建立了大学和工作中人力资本积累的生命周期模型，在此模型中，接班人决定是否要获得大学学位以及其大学教育的质量。他们面对的人力资本以及初始人力资本在个人之间的分配。我的模型重现了1920-1970年出生队列在大学学历中的观察模式。大学成就的停滞是由于1970年代开始的每单位人力资本租金价格增长率的下降。我的模型还产生了大学毕业生相对于不同年龄段的高中毕业生的终生收入增长的80％。

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