Prior empirical evidence finds that merit-aid programs such as the Georgia Hope Scholarship yield large and significant enrollment effects, whereas need-based aid programs such as the Pell Grant yield modest and often insignificant enrollment effects. This paper uses unpublished panel data on...

Prior work suggests coordination failure between labour and education markets leads some workers to have educational qualifications in excess of those specified for the job (overeducation) and others to have less (undereducation). This paper empirically models and tests the hypothesis that...

Are federal Pell grants "appropriated" by universities through increases in tuition - consistent with what is known as the Bennett hypothesis? Based on a panel of 71 universities from 1983 to 1996, we find little evidence of the Bennett hypothesis among either public or lower-ranked private...