<?xml version='1.0' encoding='UTF-8'?><xml><records><record><source-app name="HighWire" version="7.x">Drupal-HighWire</source-app><ref-type name="Journal Article">17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Li, Hongbin</style></author><author><style face="normal" font="default" size="100%">Liang, James</style></author><author><style face="normal" font="default" size="100%">Wu, Binzhen</style></author></authors><secondary-authors></secondary-authors></contributors><titles><title><style face="normal" font="default" size="100%">Labor Market Experience and Returns to College Education in Fast-Growing Economies</style></title><secondary-title><style face="normal" font="default" size="100%">Journal of Human Resources</style></secondary-title></titles><dates><year><style  face="normal" font="default" size="100%">2025</style></year><pub-dates><date><style  face="normal" font="default" size="100%">2025-01-01 00:00:00</style></date></pub-dates></dates><pages><style  face="normal" font="default" size="100%">289-325</style></pages><doi><style  face="normal" font="default" size="100%">10.3368/jhr.0421-11629R2</style></doi><volume><style face="normal" font="default" size="100%">60</style></volume><issue><style face="normal" font="default" size="100%">1</style></issue><abstract><style  face="normal" font="default" size="100%">China’s college admissions increased fivefold between 1998 and 2009. While the college premium for young workers declined, that for senior workers increased in this period. In our general equilibrium model, a rising demand for skills (education and experience) explains both trends. A demand shock leads to an expansion in the elastic college enrollment, depressing the college premium for young workers. With an inelastic supply, experienced college graduates continue to enjoy a rising premium. Despite the low immediate premium, young individuals continue to flood into colleges because they foresee high lifetime returns. The lifetime college premium differs significantly from the cross-sectional premium estimated by the Mincer equation. Simulations match empirical results well.</style></abstract></record></records></xml>