父母资源与大学入学：来自彩票中奖的证据

中文摘要

我们考察了父母中奖的美国儿童，以刻画财务资源对大学入学的影响。该分析利用了联邦税收与助学金记录，以及中奖规模和时机上的显著变异。尽管单位美元的效应较为温和，但该关系呈弱凹性，且在金额远超大学成本时具有极高的上限。效应在低社会经济地位（SES）家庭中较小，对冲击发生在青春期多早不敏感，且不受助学金挤出效应的调节。这些结果意味着家庭从大学中获得消费价值，仅凭家庭财务约束不会抑制大学入学。

Abstract

We examine US 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 weakly concave, with a high upper bound for amounts greatly exceeding college costs. Effects are smaller among low-SES households, not sensitive to how early in adolescence the shock occurs, and not moderated by financial aid crowd-out. The results imply that households derive consumption value from college, and household financial constraints alone do not inhibit attendance. (JEL G51, I22, I23, I24, I26, I28, J24, J31)