The GED

Heckman, James J.; Humphries, John Eric; Mader, Nicholas S.

doi:10.1016/b978-0-444-53429-3.00009-0

Cited by 54 publications

(46 citation statements)

References 28 publications

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“…This result is consistent with time-inconsistent human capital investment patterns, as well as the previous finding that GED recipients have worse noncognitive skills and engage in a variety of other present-oriented behaviors (Heckman, Humphries, and Mader 2011). 25 We relax the age restriction because we have access to a behavior-based version of initial preferences for obtaining a college degree (enrollment).…”

Section: B Educational Investment Patterns Differ By Patiencesupporting

confidence: 71%

Human Capital and the Lifetime Costs of Impatience

Cadena

Keys

2015

American Economic Journal: Economic Policy

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F or most individuals, choosing how much human capital to acquire represents the most important investment decision they make during their lifetimes. These decisions are made earlier in life than are other investment choices, and they have permanent consequences. Mincer's (1958) seminal treatment of these choices implies that preferences (i.e., patience) and the investment return jointly determine an individual's optimal education level, a framework that has become the foundation of the human capital investment literature (Heckman, Lochner, and Todd 2006). Yet to our knowledge, this paper represents the first systematic empirical investigation of the importance of impatience in human capital formation. 1Given that most models of human capital investment use exponential discount rates, this lack of empirical analysis is perhaps understandable; it would hardly be surprising to find individuals with different preferences making different choices. Yet, in a variety of other investment contexts, evidence increasingly suggests that individual-level variation in time preferences is as much a matter of form as degree. Multiple studies have found patterns of investment implying that a sizable fraction of 1 Golsteyn, Grönqvist, and Lindahl (2014) examine the relationship between time preferences and human capital investment in the Swedish context, although their analysis does not focus on time-inconsistency.

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Section: B Educational Investment Patterns Differ By Patiencesupporting

confidence: 71%

Human Capital and the Lifetime Costs of Impatience

Cadena

Keys

2015

American Economic Journal: Economic Policy

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“…Due to their relatively weak labor market performance (Heckman, Humphries, and Mader 2011), GED holders are assigned ten years of schooling.…”

Section: B Years Of Schoolingmentioning

confidence: 99%

Knowledge Capital and Aggregate Income Differences: Development Accounting for US States

Hanushek

Ruhose

Woessmann

2017

American Economic Journal: Macroeconomics

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A key element of economic development policies has been the improvement of the human capital of workers through such policies as upgrading public schooling or enticing the migration of skilled workers. Most empirical research has, however, focused more narrowly on school attainment, both distorting the empirical assessments and removing much of the analysis from the actual policy debates. We have two objectives in this study. First, we develop new measures of worker skills, or knowledge capital, that are designed to incorporate both quantity and quality of skill investments. Second, we investigate the extent to which difference in knowledge capital can explain variations in income across US states. The more complete measurement of worker skills proves very important in understanding state growth and development.Not much attention has been paid to the substantial income differences among US states and the role of differences in state human capital as a possible source.

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“…The program evaluations did not present the GED versus high school diploma achievement data in a manner that permitted separate analysis of the two outcomes. Consequently, we combined the two outcomes while recognizing that treating GED receipt as equivalent to high school completion with a diploma is problematic because there is substantial evidence that the economic benefits from possessing a high school diploma far exceed those from possessing a GED (Heckman, Humphries, & Mader, 2010;Tyler & Lofstrom, 2009). We refer to all individuals who either received a GED or completed high school with a diploma as high school graduates.…”

Section: Application Of Cost-effectiveness Analysis To Dropout Prevenmentioning

confidence: 99%

Cost-Effectiveness Analysis in Practice

Hollands

Bowden

Belfield

et al. 2014

Educational Evaluation and Policy Analysis

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In this article, we perform cost-effectiveness analysis on interventions that improve the rate of high school completion. Using the What Works Clearinghouse to select effective interventions, we calculate cost-effectiveness ratios for five youth interventions. We document wide variation in costeffectiveness ratios between programs and between sites within multisite programs, reflecting differences in resource use, program implementation, and target population characteristics. We offer suggestions as to how cost-effectiveness data can be used to inform policymaking, with the goal of improving the efficiency with which public and private resources are employed in education.

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The GED

Cited by 54 publications

References 28 publications

Human Capital and the Lifetime Costs of Impatience

Human Capital and the Lifetime Costs of Impatience

Knowledge Capital and Aggregate Income Differences: Development Accounting for US States

Cost-Effectiveness Analysis in Practice

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