- Todd R. Jones
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Todd R. Jones
Academic origins in economics departments, defined as the universities at which tenure-track faculty completed their doctoral studies, may have implications for how the department’s undergraduate and PhD students are trained and placed, as well as the type of research produced. In this project, we use roster data on the academic origins of the tenure-track faculty at 96 U.S. economics departments with graduate degrees. We use these data to document patterns in academic origins across several dimensions, including department ranking, gender, rank (Assistant, Associate, Full Professor), and geography. We find that 1) over half of the faculty of each of eight top departments received their PhD from one of these same universities; 2) at least half of faculty from all top-25 departments come from top-15 universities; 3) over half of Harvard and MIT faculty received their PhD at either Harvard or MIT; and 4) over half of all faculty in the study come from top-15 universities, with Harvard, MIT, and the rest of the top six disproportionately represented. The first and third findings are more pronounced for female faculty.
For years Georgia's HOPE Scholarship program provided full tuition scholarships to high achieving students. State budgetary shortfalls reduced its generosity in 2011. Under the new rules, only students meeting more rigorous merit-based criteria would retain the original scholarship covering full tuition, now called Zell Miller, with other students seeing aid reductions of approximately 15 percent. We exploit the fact that two of the criteria were high school GPA and SAT/ACT score, which students could not manipulate when the change took place. We compare already-enrolled students just above and below these cutoffs, making use of advances in multi-dimensional regression discontinuity, to estimate effects of partial aid loss. We show that, after the changes, aid flowed disproportionately to wealthier students, and find no evidence that the financial aid reduction affected persistence or graduation for these students. The results suggest that high-achieving students, particularly those already in college, may be less price sensitive than their peers.
Despite large and growing student loan balances, there is relatively little evidence on the effects of access to student loans on borrowing and educational outcomes. We examine the effect of access to credit by using policy variation in the maximum federal student loan amounts available to U.S. college students. In particular, first-, second-, and third-year students have access to different amounts of federal student loans. Using a regression discontinuity and administrative data from a state higher education system, we find that access to higher loan limits increases borrowing for at least 26 percent of borrowers. Despite this increase in borrowing, we find no evidence that eligibility for additional loans affects student GPA, persistence, or graduation.