Search Results

View Selected Citations Select and View All Search Citations

Author: Marcus, Richard D.

Resulting in 3 citations.

1.	Marcus, Richard D.
1.	Earnings and the Decision to Return to School Economics of Education Review 5,3 (1986): 309-317. Also: http://www.sciencedirect.com/science/article/pii/0272775786900828 Cohort(s): Young Men Publisher: Elsevier Keyword(s): Earnings; Educational Attainment; Educational Returns; Transition, School to Work This paper finds that a significant predictor of returning to school is below expected earnings in the NLS Young Men's cohort. These "unlucky" workers find that the foregone cost of schooling was lower than they thought. At the same time, the low relative earnings of these "unlucky" workers may cause them also to revise expected value of further schooling. Since they do actually decide to return to school, two interpretations of this revision in the value in further schooling are possible. Either the revision is upward, indicating that they believe that additional schooling will bring earnings up to that expected for persons with further education; or the revision is downward, but that revision must be dominated by a greater reduction in the expected cost of schooling for an economically sensible decision to return to school.
	Bibliography Citation Marcus, Richard D. "Earnings and the Decision to Return to School." Economics of Education Review 5,3 (1986): 309-317.

2.	Marcus, Richard D.
2.	Interruptions in Schooling of Young Women and Young Men Ph.D. Dissertation, University of Chicago, 1983 Cohort(s): Young Men, Young Women Publisher: UMI - University Microfilms, Bell and Howell Information and Learning Keyword(s): Earnings; Gender Differences; Schooling; Work History Students interrupt their education even though it is not in their economic interest to break up the normal timing of educational investments. A substantial cost of about 50 percent of annual income is the estimated present value of lifetime lost income for a year of interruption found for men in the NLS of Young Men. For women, however, the present value of lost income was far less substantial; the cost of a year of interruption estimated from the NLS of Young Women was less than 10 percent of their average annual earnings. Significant determinants of the decision to return to school include Veterans Educational Assistance, pregnancy, living in the central city, and earnings on the first job below expected earnings. An economic model of schooling interruptions is used to explain the influence of earnings on the first job and the probability of interrupting. In this model, discontinuous schooling comes from a process of sampling the job market. The individual leaves school to work. If the match of his skills and personal characteristics match the needs of his employer, this appears as higher than expected earnings on the first job. Mismatches sometimes occur inducing a decision to return to school. Implications of an economic model of schooling interruptions are applied to the Young Women and Young Men samples. This model resolves the finding that the probability of an interruption increases the older the student is at the point he or she first leaves school. It is demonstrated that a return to school is based on a downward revision in the cost of schooling rather than an upward revision in the value of further schooling for young men. Earning information on the first job after schooling has no significant effect on young women's decision to return to school, due in part to the much lower lifetime cost of schooling interruptions suffered by young women.
	Bibliography Citation Marcus, Richard D. Interruptions in Schooling of Young Women and Young Men. Ph.D. Dissertation, University of Chicago, 1983.

3.	Marcus, Richard D.
3.	Measuring the Rate of Return to Interrupted Schooling Journal of Educational Statistics 9,4 (Winter 1984): 295-310 Cohort(s): Young Men Publisher: American Educational Research Association Keyword(s): High School Dropouts; Military Service; Schooling; Veterans Permission to reprint the abstract has not been received from the publisher. The most widely followed technique to estimate the rate of return to a year of schooling was provided by Mincer (1974). This paper extends Mincer's semilog wage regression method to include those who interrupted their schooling with years of work. Schooling and the duration of the interruption interact to create nonlinearities in the rate of return to schooling. The proposed method is then applied to both Vietnam Era G.I. students and civilian interrupters. Interrupters are shown to earn substantially the same rate of return as those who experienced uninterrupted schooling, when both groups have obtained the same level of schooling. Students on the G.I. Bill earned slightly higher rates of return to their interrupted schooling, but their accumulated work experience was not valued highly in the labor market.
	Bibliography Citation Marcus, Richard D. "Measuring the Rate of Return to Interrupted Schooling." Journal of Educational Statistics 9,4 (Winter 1984): 295-310.

Admin