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The purpose of this article is to demonstrate empirically that the decision to drop out of HSch can be explained with the theory of human capital & without the concept of deferred gratification. Although other res'ers have provided some insights on individual decision-making in this regard, the contribution of this note is to focus not on the opportunity costs of educ to the individual alone, but on the cost to the fam. It is argued that, to the extent that diff's in time horizons are observed, they may be interpreted as adaptive behavior to the diff'ial price & opportunity structure. AA.

This paper exploits uniquely detailed data and cross-institution variation in aid for three large public universities to identify the effects of aid on the probability of college graduation. The results indicate that need-based and merit-based aid both increase graduation rates at large public institutions, but primarily through the types of students that 'select' these institutions. Merit-based aid facilitates an institution attracting students who have higher observed academic ability that raises the probability of graduation. Need-based aid enables an institution to attract students with non-academic attributes such as social and cultural networks that, while often unobserved, improve graduation success. Broadly, our results suggest that recent aid policy that has moved away from need-based aid for low-income students (reducing their ability to find the best institutional match) and toward merit-based aid (that alters the distribution of high ability students across colleges) could foster stagnant graduation rates even with rising enrollment rates that have been observed over the last three decades. Adapted from the source document.

This study of Ph.D. economists' careers during the period 1960–1989 examines both initial and current employment and explicitly accounts for the joint relationship between choosing an employment sector and placement within the academic sector. Initial placement and market conditions create effects that tend to persist throughout an isndividual's career. With the exception of the labor and welfare fields, women are not less likely than men either to enter or to persist in academia. But significant evidence shows that in the past, women have placed in lower‐ranked departments. Among recent degree recipients, however, underplacement of women as a general phenomenon apparently has disappeared.

Abstract. Current definitions of unemployment are inadequate for analyzing and understanding the problem of youth unemployment in the United States. By focusing on alternative definitions of youth unemployment, this study seeks to better understand the nature of the problem. Alternative rates of unemployment using data disaggregated by age, race, and gender from 1971 to 1983 are presented. Some findings: (1) all of the rates taken together provide a much better understanding of the youth unemployment problem; and (2) more effort should be devoted to developing, analyzing, and applying alternative concepts of satisfactory or unsatisfactory status for young people. Further, detailed studies of the activities, needs, and goals of a diverse population of young people and of societal preferences are clearly warranted. Without such efforts, youth unemployment policies will most likely be misdirected.