Federal Reserve Board of Governors
The Anatomy of a High-Price Question: Text, Skills, and the Economics of Achievement Measurement
Standardized test scores aggregate item (question) responses into a single scalar, collapsing distinct skills into an undifferentiated measure of proficiency. Which of these component skills matter most for long-run economic outcomes is a question that aggregate scores cannot answer. We develop… more →
Parental Resources and College Attendance: Evidence from Lottery Wins
We examine U.S. children whose parents won the lottery to trace out the effect of financial resources on college attendance. The analysis leverages federal tax and financial aid records and substantial variation in win size and timing. While per-dollar effects are modest, the relationship is… more →
Taking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Being
Growing reliance on student loans and repayment difficulties have raised concerns of a student debt crisis in the United States. However, little is known about the effects of student borrowing on human capital and long-run financial well-being. We use variation induced by recent expansions in… more →