大学选择、私立院校选项与高等教育公共投资的归宿

中文摘要

<h3>摘要</h3>以往衡量高等教育公共投资归宿的研究主要关注向公立大学学生提供的转移支付。然而，这些研究忽略了对私立大学市场和劳动力市场的潜在一般均衡效应。我们运用一个高等教育模型表明，纳入这些溢出效应对于刻画投资归宿十分重要；我们利用州支出的准实验变动对该模型进行了验证。与以往的衡量结果不同，我们发现高收入、能力中等的学生获益尤其明显，因为只有在公共支出较高时，他们才能被高质量私立大学录取。投资减少还会降低教育获得水平，从而推高大学教育工资溢价。这进一步加剧了私立大学的市场势力。

Abstract

<h3>Abstract</h3> Previous measures of the incidence of public investment in higher education focus on the transfer to public college students. However, they miss potential general equilibrium effects on the private college and labor markets. We show that capturing these spillovers is important for characterizing incidence using a model of higher education that we validate with quasi-experimental variation in state spending. Unlike previous measures, we find that high-income-modest-ability students especially benefit since they are only admitted to high-quality private colleges when public spending is high. Decreased investment also reduces educational attainment, raising the college wage premium. This exacerbates private college market power.