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Human capital policy

Author: Pedro Carneiro; James J Heckman; National Bureau of Economic Research.
Publisher: Cambridge, MA : National Bureau of Economic Research, [2003]
Series: Working paper series (National Bureau of Economic Research), working paper no. 9495.
Edition/Format:   eBook : Document : State or province government publication : EnglishView all editions and formats
Summary:
Abstract: This paper considers alternative policies for promoting skill formation that are targetted to different stages of the life cycle. We demonstrate the importance of both cognitive and noncognitive skills that are formed early in the life cycle in accounting for racial, ethnic and family background gaps in schooling and other dimensions of socioeconomic success. Most of the gaps in college attendance and  Read more...
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Details

Material Type: Document, Government publication, State or province government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Pedro Carneiro; James J Heckman; National Bureau of Economic Research.
OCLC Number: 51892788
Notes: "February 2003."
Title from title screen (viewed Mar. 19, 2003).
Description: 1 online resource (85, [41] pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), working paper no. 9495.
Responsibility: Pedro Carneiro, James Heckman.

Abstract:

Abstract: This paper considers alternative policies for promoting skill formation that are targetted to different stages of the life cycle. We demonstrate the importance of both cognitive and noncognitive skills that are formed early in the life cycle in accounting for racial, ethnic and family background gaps in schooling and other dimensions of socioeconomic success. Most of the gaps in college attendance and delay are determined by early family factors. Children from better families and with high ability earn higher returns to schooling. We find only a limited role for tuition policy or family income supplements in eliminating schooling and college attendance gaps. At most 8% of American youth are credit constrained in the traditional usage of that term. The evidence points to a high return to early interventions and a low return to remedial or compensatory interventions later in the life cycle. Skill and ability beget future skill and ability. At current levels of funding, traditional policies like tuition subsidies, improvements in school quality, job training and tax rebates are unlikely to be effective in closing gaps.

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