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Author: Smith, Jeffrey A.

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1.	Black, Dan A. Smith, Jeffrey A.
1.	Estimating the Returns to College Quality with Multiple Proxies for Quality Working Paper, Center for Policy Research-Syracuse University and Department of Economics, University of Maryland, February 2005 Cohort(s): NLSY79 Publisher: Department of Economics, University of Maryland Keyword(s): Armed Services Vocational Aptitude Battery (ASVAB); College Characteristics; College Graduates; Colleges; Gender Differences; Test Scores/Test theory/IRT Permission to reprint the abstract has not been received from the publisher. Existing studies of the effects of college quality on earnings typically rely on a single proxy variable for college quality. This study questions the wisdom of this approach given that a single proxy likely measures college quality with substantial error. We begin by considering the parameter of interest and its relation to the parameter estimated in the literature; this analysis reveals the potential for substantial bias. We then consider three econometric approaches to the problem that involve the use of multiple proxies for college quality: combining the multiple proxies via factor analysis, using the additional proxies as instruments, and a GMM estimator derived from a structural measurement error model that generalizes the classical measurement error model. Our estimates suggest that the existing literature understates the wage effects of college quality.
	Bibliography Citation Black, Dan A. and Jeffrey A. Smith. "Estimating the Returns to College Quality with Multiple Proxies for Quality." Working Paper, Center for Policy Research-Syracuse University and Department of Economics, University of Maryland, February 2005.

2.	Black, Dan A. Smith, Jeffrey A.
2.	Estimating the Returns to College Quality with Multiple Proxies for Quality Journal of Labor Economics 24,3 (July 2006): 701-728. Also: http://www.jstor.org/stable/10.1086/505067 Cohort(s): NLSY79 Publisher: University of Chicago Press Keyword(s): Armed Services Vocational Aptitude Battery (ASVAB); College Characteristics; College Graduates; Gender Differences; Test Scores/Test theory/IRT Existing studies of the effects of college quality on wages typically rely on a single proxy variable for college quality. This study questions the wisdom of using a single proxy given that it likely contains substantial measurement error. We consider four econometric approaches to the problem that involve the use of multiple proxies for college quality: factor analysis, instruments variables, a method recently proposed by Lubotsky and Wittenberg, and a GMM estimator. Our estimates suggest that the existing literature understates the wage effects of college quality and illustrate the value of using multiple proxies in this and other similar contexts.
	Bibliography Citation Black, Dan A. and Jeffrey A. Smith. "Estimating the Returns to College Quality with Multiple Proxies for Quality." Journal of Labor Economics 24,3 (July 2006): 701-728.

3.	Black, Dan A. Smith, Jeffrey A.
3.	Evaluating the Evidence from the Literature on the Returns to College Quality Presented: Atlanta, GA, Population Association of America Annual Meeting, May 2002 Cohort(s): NLSY79 Publisher: Population Association of America Keyword(s): College Education; Male Sample Permission to reprint the abstract has not been received from the publisher. This paper makes three contributions to the literature on the earnings effects of college quality. First, we present evidence on the returns to college quality for men from the NLSY. Our evidence assumes that the rich data in the NLSY suffice to control for the non-random selection of students. Second, we show that studies using only a single variable, such as mean test scores to measure quality understate its effects. Such studies ignore the fact single measures represent error-ridden proxies for the underlying quality. Third, we examine the support problem. If high quality universities have very few low quality students, then the earnings effects in studies that use linear models depend heavily on the linear functional form restriction. We find that the support problem is important but not over-whelming since there are some, but not many, low ability students at good universities and high ability students at low quality universities.
	Bibliography Citation Black, Dan A. and Jeffrey A. Smith. "Evaluating the Evidence from the Literature on the Returns to College Quality." Presented: Atlanta, GA, Population Association of America Annual Meeting, May 2002.

4.	Black, Dan A. Smith, Jeffrey A.
4.	How Robust Is the Evidence on the Effects of College Quality? Evidence from Matching Journal of Econometrics 121,1-2 (July/August 2004): 99-125. Also: http://www.sciencedirect.com/science/article/pii/S0304407603002562 Cohort(s): NLSY79 Publisher: Elsevier Keyword(s): Colleges; Gender Differences; Modeling; Test Scores/Test theory/IRT We estimate the effects of college quality using propensity score matching methods and the National Longitudinal Survey of Youth 1979 cohort. Matching allows us to relax the linear functional form assumption implicit in regression-based estimates. We also examine the support problem by determining whether there are individuals attending low-quality colleges similar to those attending high-quality colleges, and find that the support condition holds only weakly. Thus, the linear functional form plays an important role in regression-based estimates (and matching estimates have large standard errors). Point estimates from regression and matching are similar for men but not women. [ABSTRACT FROM AUTHOR]
	Bibliography Citation Black, Dan A. and Jeffrey A. Smith. "How Robust Is the Evidence on the Effects of College Quality? Evidence from Matching." Journal of Econometrics 121,1-2 (July/August 2004): 99-125.

5.	Daniel, Kermit Black, Dan A. Smith, Jeffrey A.
5.	Racial Differences in the Effects of College Quality and Student Body Diversity on Wages In: Diversity Challenged: Evidence on the Impact of Affirmative Action. G. Orfield, ed. Cambridge MA: Harvard Education Publishing Group, 2001: pp. 221-231 Cohort(s): NLSY79 Publisher: Harvard Eduation Publishing Group Keyword(s): College Enrollment; Educational Returns; Gender Differences; Racial Differences; Wage Differentials; Wage Models Permission to reprint the abstract has not been received from the publisher. This chapter presents a study which used data from the U.S. National Longitudinal Survey of Youth (NLSY) to examine racial differences in the effects of college quality and student diversity on wages. The study investigated whether the economic benefit of college quality might be higher for groups helped by diversity programs and whether a racially diverse student body would directly benefit all students. The NLSY provided data on student characteristics and demographics, student ability, college attended, and post-college wages. For each respondent who attended college, researchers collected data on college characteristics from the U.S. Department of Education's Integrated Postsecondary Education Data System and U.S. News and World Report's Directory of Colleges and Universities. There was a much larger effect of college quality on the later wages of blacks than non-blacks. Attending a college with moderate student diversity, as measured by the fraction of black students, raised earnings for both black and non-black men. For women, there was a weaker effect that applied only to black women. In regard to the effects of college quality on black and non-black students, there was an effect on black male students from three to four times as large as that for non-black male students. (SM) Copyright ERIC.
	Bibliography Citation Daniel, Kermit, Dan A. Black and Jeffrey A. Smith. "Racial Differences in the Effects of College Quality and Student Body Diversity on Wages" In: Diversity Challenged: Evidence on the Impact of Affirmative Action. G. Orfield, ed. Cambridge MA: Harvard Education Publishing Group, 2001: pp. 221-231

6.	Dillon, Eleanor Wiske Smith, Jeffrey A.
6.	Determinants of Mismatch Between Student Ability and College Quality Presented: Detroit MI, Population Association of America Annual Meeting, April 2009. Also: http://paa2009.princeton.edu/download.aspx?submissionId=91536 Cohort(s): NLSY97 Publisher: Population Association of America Keyword(s): Armed Services Vocational Aptitude Battery (ASVAB); College Characteristics; College Education; School Completion; School Progress; Schooling, Post-secondary; Test Scores/Test theory/IRT Permission to reprint the abstract has not been received from the publisher. For many people a college education is one of the most significant investment decisions they will make, both in terms of the costs of going to college and of the potential returns to that investment. We consider how students and their families make the decision of which, if any, college they will attend. While most college-bound students attend a school whose quality is fairly proportional to the student's ability, there are many relatively weak students at competitive schools and even more high-ability students at relatively low quality schools. A poor match between student and school characteristics can have a number of negative consequences for the student. Workers receive an extra wage premium for attending a high quality college, so a student who attends a school for which she is overqualified may be foregoing some of her potential returns to attending college. Students who are over- or under-qualified for their school may be less likely to graduate and more likely to transfer or take extra time to complete their degree.
	Bibliography Citation Dillon, Eleanor Wiske and Jeffrey A. Smith. "Determinants of Mismatch Between Student Ability and College Quality." Presented: Detroit MI, Population Association of America Annual Meeting, April 2009.

7.	Dillon, Eleanor Wiske Smith, Jeffrey A.
7.	The Consequences of Academic Match Between Students and Colleges Working Paper No 25069, National Bureau of Economic Research, September 2018. Also: http://www.nber.org/papers/w25069 Cohort(s): NLSY79, NLSY97 Publisher: National Bureau of Economic Research (NBER) Keyword(s): College Enrollment; Earnings; Educational Outcomes; STEM (Science, Technology, Engineering & Mathematics) We consider the effects of student ability, college quality, and the interaction between the two on academic outcomes and earnings using data on two cohorts of college enrollees. Student ability and college quality strongly improve degree completion and earnings for all students. We find evidence of meaningful complementarity between student ability and college quality in degree completion at four years and long-term earnings, but not in degree completion at six years or STEM degree completion. This complementarity implies some tradeoff between equity and efficiency for policies that move lower ability students to higher quality colleges.
	Bibliography Citation Dillon, Eleanor Wiske and Jeffrey A. Smith. "The Consequences of Academic Match Between Students and Colleges." Working Paper No 25069, National Bureau of Economic Research, September 2018.

8.	Dillon, Eleanor Wiske Smith, Jeffrey A.
8.	The Consequences of Academic Match between Students and Colleges Journal of Human Resources published online (13 November 2019): DOI: 10.3368/jhr.55.3.0818-9702R1. Also: http://jhr.uwpress.org/content/early/2019/11/07/jhr.55.3.0818-9702R1.abstract Cohort(s): NLSY79, NLSY97 Publisher: University of Wisconsin Press Keyword(s): Cognitive Ability; College Characteristics; College Degree; Earnings; STEM (Science, Technology, Engineering & Mathematics) We consider the effects of student ability, college quality, and the interaction between the two on academic outcomes and earnings using data on two cohorts of college enrollees. Student ability and college quality strongly improve degree completion and earnings for all students. We find evidence of meaningful complementarity between student ability and college quality in degree completion at four years and long-term earnings, but not in degree completion at six years or STEM degree completion. This complementarity implies some tradeoff between equity and efficiency for policies that move lower ability students to higher quality colleges.
	Bibliography Citation Dillon, Eleanor Wiske and Jeffrey A. Smith. "The Consequences of Academic Match between Students and Colleges." Journal of Human Resources published online (13 November 2019): DOI: 10.3368/jhr.55.3.0818-9702R1.

9.	Dillon, Eleanor Wiske Smith, Jeffrey A.
9.	The Determinants of Mismatch Between Students and Colleges Working Paper No. 19286, National Bureau of Economic Research (NBER), August 2013. Also: http://www.nber.org/papers/w19286 Cohort(s): NLSY97 Publisher: National Bureau of Economic Research (NBER) Keyword(s): Armed Forces Qualifications Test (AFQT); College Characteristics; College Education; School Completion; School Progress; Schooling, Post-secondary; Test Scores/Test theory/IRT We use the National Longitudinal Survey of Youth 1997 cohort to examine mismatch between student ability and college quality. Mismatch has implications for the design of state higher education systems and for student aid policy. The data indicate substantial amounts of both undermatch (high ability students at low quality colleges) and overmatch (low ability students at high quality colleges). Student application and enrollment decisions, rather than college admission decisions, drive most mismatch. Financial constraints, information, and the public college options facing each student all affect the probability of mismatch. More informed students attend higher quality colleges, even when doing so involves overmatching.
	Bibliography Citation Dillon, Eleanor Wiske and Jeffrey A. Smith. "The Determinants of Mismatch Between Students and Colleges." Working Paper No. 19286, National Bureau of Economic Research (NBER), August 2013.

10.	Sanders, Seth G. Smith, Jeffrey A. Zhang, Ye
10.	Teenage Childbearing and Maternal Schooling Outcomes: Evidence from Matching Presented: New York, NY, Society of Labor Economists Annual Meeting, May 2008. Also: http://client.norc.org/jole/SOLEweb/826.pdf Cohort(s): NLSY79 Publisher: Department of Economics, University of Maryland Keyword(s): Adolescent Fertility; Childbearing, Adolescent; Educational Attainment; Mothers, Education; Schooling; Variables, Independent - Covariate Permission to reprint the abstract has not been received from the publisher. This paper investigates to what extent the observed correlation between adolescent fertility and poor maternal educational attainment is causal. Semi-parametric kernel matching estimator is applied to estimate the effects of teenage childbearing on schooling outcomes. The matching method estimates the conditional moments without imposing any functional form restrictions and attends directly to the common support condition. Using data from the NLSY79 [1979-to-2002 waves], kernel matching estimates suggest that half of the cross-sectional educational gaps remains after controlling for individual and family covariates. The difference between matching estimates and regression-based estimates implies that part of the conditional difference in parametric models is due to the functional assumption. The robustness check following Altonji, Elder, and Taber (2005) reveals that a substantial amount of correlation is required within a parametric framework to make the negative effect of teen motherhood on educational attainment go away. Further evidence obtained by simulation-based nonparametric sensitivity analysis suggests that the matching estimates are quite robust with regard to a wide range of specifications of the simulated unobservables. The paper suggests that the "richness of covariates makes the sample ideal for our study and makes the assumption of selection-on-observables plausible.
	Bibliography Citation Sanders, Seth G., Jeffrey A. Smith and Ye Zhang. "Teenage Childbearing and Maternal Schooling Outcomes: Evidence from Matching." Presented: New York, NY, Society of Labor Economists Annual Meeting, May 2008.

11.	Smith, Jeffrey A. Dillon, Eleanor Wiske
11.	Mismatch Between Students and Colleges: Evidence from the NLSY-97 Presented: San Francisco, CA, Allied Social Science Associations Annual Meeting, January 3-5, 2009 Cohort(s): NLSY97 Publisher: Allied Social Science Association (ASSA) Annual Meetings Keyword(s): College Characteristics; College Enrollment Permission to reprint the abstract has not been received from the publisher.
	Bibliography Citation Smith, Jeffrey A. and Eleanor Wiske Dillon. "Mismatch Between Students and Colleges: Evidence from the NLSY-97." Presented: San Francisco, CA, Allied Social Science Associations Annual Meeting, January 3-5, 2009.

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