University Choice: The Role of Expected Earnings, Nonpecuniary Outcomes, and Financial Constraints
University Choice: The Role of Expected Earnings, Nonpecuniary Outcomes, and Financial Constraints
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DOI：
10.1086/701808
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发表时间：
2019-10-01
影响因子：
8.2
通讯作者：
Zafar, Basit
中科院分区：
文献类型：
--
作者：
Delavande, Adeline;Zafar, Basit
我们调查了巴基斯坦学生选择大学的决定因素，重点是货币回报，在学校享受的非金钱因素和财政限制。为了减轻识别问题的偏好，期望和市场约束的分离，我们使用丰富的主观期望的数据，与直接措施的财政限制，估计一个生命周期模型的学校选择联合学校的具体期望辍学。我们发现，劳动力市场前景发挥了很小的作用。相反，非金钱的结果，如学校的意识形态，是主要的决定因素。政策模拟表明，放松金融约束将带来巨大的福利收益。
We investigate the determinants of students' university choice in Pakistan, with a focus on monetary returns, nonpecuniary factors enjoyed at school, and financial constraints. To mitigate the identification problem concerning the separation of preferences, expectations, and market constraints, we use rich data on subjective expectations, with direct measures of financial constraints, to estimate a life-cycle model of school choice jointly with school-specific expectations of dropping out. We find that labor market prospects play a small role. Instead, nonpecuniary outcomes, such as the school's ideology, are the major determinants. Policy simulations suggest that relaxing financial constraints would have large welfare gains.