RT Journal Article SR Electronic T1 Building the Stock of College-Educated Labor Revisited JF Journal of Human Resources JO J Hum Resour FD University of Wisconsin Press SP 270 OP 285 DO 10.3368/jhr.47.1.270 VO 47 IS 1 A1 David L. Sjoquist A1 John V. Winters YR 2012 UL http://jhr.uwpress.org/content/47/1/270.abstract AB In a recent paper in the Journal of Human Resources, Dynarski (2008) used data from the 1 percent 2000 Census Public Use Microdata Sample (PUMS) files to demonstrate that merit scholarship programs in Georgia and Arkansas increased the stock of college-educated individuals in those states. This paper replicates the results in Dynarski (2008) but we also find important differences in the results between the 1 percent and 5 percent PUMS, especially for women. We also demonstrate that the author’s use of clustered standard errors, given the small number of clusters and only two policy changes, severely understates confidence intervals.