000			01282nam a22001577a 4500
999			_c518498 _d518498
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100			_aAthreya, Kartik and Eberly, Janice _929564
245			_aRisk, The college premium, and aggregate human capital investment
260			_aAmerican Economic Journal Macroeconomics
300			_a13(2), Apr, 2021: p.168-213
520			_aDespite increases in the college earnings premium to persistently high levels, investment in college education remains low. We can understand this apparent puzzle by considering the risk of attending college and, in particular, the possibility of failing to graduate. Students with a reasonable probability of completing college already enroll, and for those who do not enroll, the low chance of completion blunts the impact of the rising college premium. In the absence of improved college readiness, our quantitative results suggest that continuing long-standing trends in skill-biased technological change can be expected primarily to increase earnings inequality rather than college attainment. – Reproduced
650			_aRisk, College premium, Human capital investment, Human capital _929565
773			_aAmerican Economic Journal Macroeconomics
906			_aHUMAN CAPITAL
942			_cAR