Housing Prices, Unemployment Rates, Disadvantage, and Progress Toward a Degree

58 Pages Posted: 31 Aug 2017

See all articles by Leslie S. Stratton

Leslie S. Stratton

Virginia Commonwealth University - School of Business - Department of Economics; IZA Institute of Labor Economics

Abstract

Rising unemployment and housing price appreciation are associated with increased college enrollment. Enrollment does not, however, guarantee completion. We use a discrete time, competing hazard function that accommodates individual-specific heterogeneity to assess the impact changing unemployment and housing prices have on progress toward a college degree in the United States for students interviewed for the 1996-2001 Beginning Post-Secondary Survey. The results indicate that rising unemployment rates have at best a modest effect on six year graduation rates. Both boys and girls are, however, more likely to not be enrolled and less likely to have graduated at the six-year mark when housing prices appreciate, and this effect is more pronounced for more disadvantaged youth.

Keywords: higher education, graduation, housing prices, unemployment, disadvantage

JEL Classification: I21, I24

Suggested Citation

Stratton, Leslie S., Housing Prices, Unemployment Rates, Disadvantage, and Progress Toward a Degree. IZA Discussion Paper No. 10941, Available at SSRN: https://ssrn.com/abstract=3029812

Leslie S. Stratton (Contact Author)

Virginia Commonwealth University - School of Business - Department of Economics ( email )

Box 844000
Richmond, VA 23284-4000
United States
804-828-7141 (Phone)
804-828-1719 (Fax)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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