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Essays in Finance and Inequality / Mehran Ebrahimian.
- Format:
- Book
- Thesis/Dissertation
- Author/Creator:
- Ebrahimian, Mehran, author.
- Language:
- English
- Subjects (All):
- Finance.
- Education.
- Education policy.
- Education finance.
- Finance--Penn dissertations.
- Penn dissertations--Finance.
- Local Subjects:
- Finance.
- Education.
- Education policy.
- Education finance.
- Finance--Penn dissertations.
- Penn dissertations--Finance.
- Physical Description:
- 1 online resource (102 pages)
- Distribution:
- Ann Arbor : ProQuest Dissertations & Theses, 2022
- Contained In:
- Dissertations Abstracts International 84-02A.
- Place of Publication:
- [Philadelphia, Pennsylvania] : University of Pennsylvania, 2022.
- Language Note:
- English
- Summary:
- Students of lower-income families invest much less in college education than higher-income families. To assess the role of financing constraints and subsidy schemes in explaining this gap, I structurally estimate a model of college choice in the presence of financing frictions. The estimation uses novel nationally representative data on US high-school and college students. I propose a novel identification strategy that relies on bunching at federal Stafford loan limits and differences between in- and out-of-state tuition. I find that the college investment gap is mainly due to fundamental factors: heterogeneity in preparedness for college and the (perceived) value-added of college. Frictionless access to student loans would substantially increase consumption during college but would leave the investment in college education mainly unaffected. I show that making public colleges tuition-free would mitigate financing constraints, but it would overall entail more than $15B deadweight loss per year and would disproportionately benefit wealthier students. Expanding Pell grants, in contrast, would benefit lower-income students at a much lower cost.
- Notes:
- Source: Dissertations Abstracts International, Volume: 84-02, Section: A.
- Advisors: Taylor, Luke; Committee members: Wachter, Jessica A.; Maynard, Rebecca A.; Roussanov, Nick; Musto, David.
- Department: Finance.
- Ph.D. University of Pennsylvania 2022.
- Local Notes:
- School code: 0175
- ISBN:
- 9798837503023
- Access Restriction:
- Restricted for use by site license.
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