The Role of Parental Wealth and Income in Financing Children's College Attendance and Its Consequences

References

1. 1. Alessandrini, Diana, and
   2. Joniada Milla

   . 2021. “Minimum Wage Effects on Human Capital Accumulation: Evidence from Canadian Data.” IZA Discussion Papers, 14178.
2. 1. Andreski, Patricia,
   2. Daniel Kreisman, and
   3. Robert F. Schoeni

   . 2015. “Comparing Estimates of Student Loans Measured in the PSID-TAS with the National Postsecondary Student Aid Survey.” PSID Technical Series Paper #15–02.
3. 1. Arcidiacono, Peter,
   2. Esteban Aucejo,
   3. Arnaud Maurel, and
   4. Tyler Ransom

   . 2016. “College Attrition and the Dynamics of Information Revelation.” National Bureau of Economic Research Working Paper No. 22325.
4. 1. Belley, Philippe, and
   2. Lance Lochner

   . 2007. “The Changing Role of Family Income and Ability in Determining Educational Achievement.” Journal of Human Capital, 1(1): 37–89.

   OpenUrlCrossRef
5. 1. Belley, Philippe,
   2. Marc Frenette, and
   3. Lance Lochner

   . 2014. “Post-Secondary Attendance by Parental Income in the U.S. and Canada: Do Financial Aid Policies Explain the Differences?” Canadian Journal of Economics, 47(2): 664–696.

   OpenUrl
6. 1. Black, Dan A.,
   2. Terra G. McKinnish, and
   3. Seth G. Sanders

   . 2005. “Tight Labor Markets and the Demand for Education: Evidence from the Coal Boom and Bust.” ILR Review, 59(1): 3–16.

   OpenUrlCrossRef
7. 1. Bleemer, Zachary,
   2. Meta Brown,
   3. Donghoon Lee,
   4. Katherine Strair, and
   5. Wilbert van der Klaauw

   . 2017. “Echoes of Rising Tuition in Students' Borrowing, Educational Attainment, and Homeownership in Post-Recession America.” Federal Reserve Bank of New York Staff Report No. 820, New York.
8. 1. Blundell, Richard W., and
   2. James L. Powell

   . 2003. “Endogeneity in Nonparametric and Semiparametric Regression Models.” In Advances in Economics and Econonometrics: Theory and Applications, Eighth World Congress Volume. , ed. M. Dewatripont, L.P. Hansen and S.J. Turnovsky, 312–357. Cambridge University Press.
9. 1. Blundell, Richard W., and
   2. James L. Powell

   . 2004. “Endogeneity in semiparametric binary response models.” The Review of Economic Studies, 71(3): 655–679.

   OpenUrlCrossRef
10. 1. Blundell, Richard W., and
    2. Rosa L. Matzkin

    . 2014. “Control functions in nonseparable simultaneous equations models.” Quantitative Economics, 5(2): 271–295.

    OpenUrl
11. 1. Bound, John,
    2. Michael F. Lovenheim, and
    3. Sarah Turner

    . 2010. “Why Have College Completion Rates Declines? An Analysis of Changing Student Preparation and Collegiate Resources.” American Economic Journal: Applied Economics, 2: 129–157.

    OpenUrlCrossRefPubMedWeb of Science
12. 1. Bourguignon, Françcois,
    2. Martin Fournier, and
    3. Marc Gurgand

    . 2007. “Selection Bias Corrections based on Multinomial Logit Model: Monte Carlo Comparisons.” Journal of Eco-nomic Surveys, 21(1): 174–205.

    OpenUrlCrossRefWeb of Science
13. 1. Browning, Martin,
    2. Mette Gørtz, and
    3. Søren Leth-Petersen

    . 2013. “Housing Wealth and Consumption: A Micro Panel Study.” The Economic Journal, 123(568): 401–428.

    OpenUrl
14. 1. Brown, Meta,
    2. John Karl Scholz, and
    3. Ananth Seshadri

    . 2012. “A New Test of Borrowing Constraints for Education.” Review of Economic Studies, 79: 511–538.

    OpenUrlCrossRef
15. 1. Bulman, George,
    2. Robert Fairlie,
    3. Sarena Goodman, and
    4. Adam Isen

    . 2021. “Parental Resources and College Attendance: Evidence from Lottery Wins.” American Economic Re-view, 111(4): 1201–1240.

    OpenUrl
16. 1. Cameron, Stephen, and
    2. Christopher Taber

    . 2004. “Estimation of Educational Borrowing Constraints using Returns to Schooling.” Journal of Political Economy, 112: 132–182.

    OpenUrlCrossRefWeb of Science
17. 1. Cameron, Stephen, and
    2. James J. Heckman

    . 1998. “Life Cycle Schooling and Dynamic Selection Bias: Models and Evidence for Five Cohorts of American Males.” Journal of Political Economy, 106: 262–333.

    OpenUrlCrossRefWeb of Science
18. 1. Cameron, Stephen, and
    2. James J. Heckman

    . 2001. “The Dynamics of Educational Attainment for Black, Hispanic, and White Males.” Journal of Political Economy, 109: 455–99.

    OpenUrlCrossRefWeb of Science
19. 1. Carroll, Christopher D.,
    2. Misuzu Otsuka, and
    3. Jiri Slacalek

    . 2011. “How Large are Housing and Financial Wealth Effects? A New Approach.” Journal of Money, Credit and Banking, 43(1): 55–79.

    OpenUrlCrossRef
20. 1. Charles, Kerwin Kofi,
    2. Erik Hurst, and
    3. Matthew J. Notowidigdo

    . 2018. “Housing Booms and Busts, Labor Market Opportunities, and College Attendance.” American Eco-nomic Review, 108(10): 2947–94.

    OpenUrl
21. 1. College Board

    . 2017. “Trends in Student Aid 2017.” trends.collegeboard.org.
22. 1. Cooper, Daniel, and
    2. Christine Wang

    . 2014. “Student Loan Debt and Economic Outcomes.” Unpublished manuscript, Federal Reserve Bank of Boston.
23. 1. Cooper, Daniel, and
    2. Maria José Luengo-Prado

    . 2015. “House Price Growth when Children are Teenagers: A Path to Higher Earnings?” Journal of Urban Economics, 86: 54–72.

    OpenUrl
24. 1. Dahl, Gordon B.

    2002. “Mobility and the Return to Education: Testing a Roy Model with Multiple Markets.” Econometrica, 70(6): 2367–2420.

    OpenUrlCrossRefWeb of Science
25. 1. Dettling, Lisa J., and
    2. Joanne W. Hsu

    . 2018. “Returning to the nest: Debt and parental co-residence among young adults.” Labour Economics, 54: 225–236.

    OpenUrl
26. 1. Dubin, Jeffrey A., and
    2. Daniel L. McFadden

    . 1984. “An Econometric Analysis of Residential Electric Appliance Holdings and Consumption.” Econometrica, 52(2): 345–362.

    OpenUrlCrossRefWeb of Science
27. 1. Faber, Jacob W., and
    2. Peter M. Rich

    . 2018. “Financially Overextended: College Attendance as a Contributor to Foreclosures During the Great Recession.” Demography, 55(5): 1727–1748.

    OpenUrl
28. 1. Heckman, James J.

    1979. “Sample Selection Bias as a Specification Error.” Econometrica, 47(1): 153–161.

    OpenUrlCrossRefWeb of Science
29. 1. Hilger, Nathaniel G.

    2016. “Parental Job Loss and Children's Long-Term Outcomes: Evidence from 7 Million Fathers' Layoffs.” American Economic Journal: Applied Economics, 8(3): 247–83.

    OpenUrl
30. 1. Keane, Michael, and
    2. Kenneth I. Wolpin

    . 2001. “The Effect of Parental Transfers and Borrowing Constraints on Educational Attainment.” International Economic Review, 42: 1051–1103.

    OpenUrlCrossRefWeb of Science
31. 1. Lee, Chang Hyung

    . 2020. “Minimum Wage Policy and Community College Enrollment Patterns.” ILR Review, 73(1): 178–210.

    OpenUrl
32. 1. Lochner, Lance J., and
    2. Alexander Monge-Naranjo

    . 2011. “The Nature of Credit Constraints and Human Capital.” American Economic Review, 101(6): 2487–2529.

    OpenUrl
33. 1. Lochner, Lance J., and
    2. Alexander Monge-Naranjo

    . 2012. “Credit Constraints in Education.” Annual Review of Economics, 4(1): 225–256.

    OpenUrl
34. 1. Lochner, Lance,
    2. Todd Stinebrickner, and
    3. Utku Suleymanoglu

    . 2018. “Parental Support, Savings and Student Loan Repayment.” National Bureau of Economic Research Working Paper No. 24863.
35. 1. Lovenheim, Michael F.

    2011. “The Effect of Liquid Housing Wealth on College Enrollment.” Journal of Labor Economics, 29(4): 741–771.

    OpenUrlCrossRefWeb of Science
36. 1. Lovenheim, Michael F., and
    2. C. Lockwood Reynolds

    . 2013. “The Effect of Housing Wealth on College Choice: Evidence from the Housing Boom.” Journal of Human Resources, 48(1): 1–35.

    OpenUrlAbstract/FREE Full Text
37. 1. Manski, Charles F.

    1989. “Schooling as experimentation: a reappraisal of the postsecondary dropout phenomenon.” Economics of Education Review, 8(4): 305–312.

    OpenUrlCrossRef
38. 1. McFadden, Daniel

    . 1974. “Conditional Logit Analysis of Qualitative Choice Behavior.” In Frontiers in Econometrics. , ed. Paul Zarembka, 105–142. New York:Academic Press.
39. 1. McFarland, J.,
    2. B. Hussar,
    3. C. de Brey,
    4. T. Snyder,
    5. X. Wang,
    6. S. Wilkinson-Flicker,
    7. S. Gebrekristos,
    8. J. Zhang,
    9. A. Rathbun,
    10. A. Barmer,
    11. F. Bullock Mann, and
    12. S. Hinz

    . 2017. The Condition of Education, 2017. U.S. Department of Education, National Center for Education Statistics.
40. 1. Mezza, Alvaro A.,
    2. Daniel R. Ringo,
    3. Shane M. Sherlund, and
    4. Kamila Sommer

    . 2020. “Student Loans and Homeownership.” Journal of Labor Economics, 38(1): 215–260.

    OpenUrl
41. 1. Paiella, Monica, and
    2. Luigi Pistaferri

    . 2017. “Decomposing the Wealth Effect on Consumption.” Review of Economics and Statistics, 99(4): 710–721.

    OpenUrl
42. 1. Petrin, Amil, and
    2. Kenneth Train

    . 2010. “A Control Function Approach to Endogeneity in Consumer Choice Models.” Journal of Marketing Research, XLVII: 3–13.

    OpenUrl
43. 1. Rothstein, Jesse, and
    2. Cecilia Elena Rouse

    . 2011. “Constrained after College: Student Loans and Early-Career Occupational choices.” Journal of Public Finance, 95: 149–163.

    OpenUrl
44. 1. SallieMae

    . 2017. “How America Pays for College 2017.” Sallie Mae Bank.
45. 1. Schoeni, Robert F.,
    2. Suzanne M. Bianchi,
    3. V. Joseph Hotz,
    4. Judith A. Seltzer, and
    5. Emily E. Wiemers

    . 2015. “Intergenerational Transfers and Rosters of the Extended Family: A new substudy of the Panel Study of Income Dynamics.” Longitudinal and Life Course Studies, 6(3): 319–330.

    OpenUrl
46. 1. Stange, Kevin M.

    2012. “An empirical investigation of the option value of college enrollment.” American Economic Journal: Applied Economics, 4(1): 49–84.

    OpenUrlCrossRef
47. 1. Stinebrickner, Ralph, and
    2. Todd Stinebrickner

    . 2014. “Academic performance and college dropout: Using longitudinal expectations data to estimate a learning model.” Journal of Labor Economics, 32(3): 601–644.

    OpenUrlCrossRef
48. 1. Stinebrickner, Todd, and
    2. Ralph Stinebrickner

    . 2012. “Learning about academic ability and the college dropout decision.” Journal of Labor Economics, 30(4): 707–748.

    OpenUrlCrossRefWeb of Science
49. 1. Train, Kenneth

    . 1986. Qualitative choice analysis: Theory, econometrics, and an application to automobile demand. Vol. 10, Cambridge, MA:MIT press.
50. 1. Wooldridge, Jeffrey M.

    2014. “Quasi-Maximum Likelihood Estimation and Tests for Nonlinear Models with Endogenous Explanatory Variables.” Journal of Econometrics, 182: 226–234.

    OpenUrl
51. 1. Wooldridge, Jeffrey M.

    2015. “Control Function Methods in Applied Econometrics.” Journal of Human Resources, 50(2): 420–445.

    OpenUrlAbstract/FREE Full Text