How the Financial Crisis and Great Recession Affected Higher Education / Jeffrey R. Brown, Caroline M. Hoxby.

Format:

Book

Contributor:

Brown, Jeffrey R., Editor.

Hoxby, Caroline M., Editor.

Series:

National Bureau of Economic Research conference report.

National Bureau of Economic Research Conference Report

Language:

English

Subjects (All):

Education, Higher--United States--Finance.

Education, Higher.

Education and state--United States.

Education and state.

Global Financial Crisis, 2008-2009.

Physical Description:

1 online resource (343 p.)

Place of Publication:

Chicago : University of Chicago Press, [2014]

Language Note:

English

Summary:

The recent financial crisis had a profound effect on both public and private universities, which faced shrinking endowments, declining charitable contributions, and reductions in government support. Universities responded to these stresses in different ways. This volume presents new evidence on the nature of these responses, and on how the incentives and constraints facing different institutions affected their behavior. The studies in this volume explore how various practices at institutions of higher education, such as the drawdown of endowment resources, the awarding of financial aid, and spending on research, responded to the financial crisis. The studies examine universities as economic organizations that operate in a complex institutional and financial environment. The authors examine the role of endowments in university finances and the interaction of spending policies, asset allocation strategies, and investment opportunities. They demonstrate that universities' behavior can be modeled using economic principles.

Contents:

Frontmatter

Contents

Preface

Introduction

1. Endowment Management Based on a Positive Model of the University

2. The Interaction of Spending Policies, Asset Allocation Strategies, and Investment Performance at University Endowment Funds

3. Competition among University Endowments

4. Keynes, King's, and Endowment Asset Management

5. The Supply of and Demand for Charitable Donations to Higher Education

6. The Impact of the Financial Crisis on Faculty Labor Markets

7. The Financial Crisis and College Enrollment: How Have Students and Their Families Responded?

8. Federal and State Financial Aid during the Great Recession

9. Did the Fiscal Stimulus Work for Universities?

Contributors

Author Index

Subject Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2020)

ISBN:

9780226201979

022620197X

OCLC:

1058760525