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Title: Supply Factors and the Mid-Century Fall in the Skill Premium

Citation Type: Miscellaneous

Publication Year: 2004

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Abstract: Supply factors affecting the costs of obtaining schooling are quantitatively important in explaining the U-shaped trend in the skill premium in the U. S. across the twentieth century. Specifically, the direct costs fell dramatically in the early part of the century as a result of increased public funding and falling fertility rates. The foregone earning costs of schooling were also low for mid-century workers because of high youth unemployment during the Great Depression. Incorporating these factors, the baseline calibrated model is able to explain about 40 percent of the mid-century decline and alternative calibrations explain up to 71 percent without any mid-century decline in the demand for skill.

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Authors: Kaboski, Joseph P.

Publisher: The Ohio State University

Data Collections: IPUMS USA

Topics: Education, Poverty and Welfare

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