Essays on Human Capital, Inequality and Growth
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Authors
Long, Blair
Date
Type
thesis
Language
eng
Keyword
College Dropout , Canadian Housing Market , Inequality , Newfoundland Economic History
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Abstract
The first chapter studies heterogeneity in rates of college noncompletion in the United States. College noncompletion rates exhibit considerable heterogeneity along the lines of student ability and family resources. I study the origins of this heterogeneity in college noncompletion risk and its implications for productivity and the distribution of human capital. In general, we should expect noncompletion rates to rise as education subsidies become more generous. This occurs because 1) as subsidies become more generous, the average ability of enrollees falls, and 2) resulting lower skill premia drive noncompletion decisions by marginal students. Policy experiments show that although subsidy expansion increases human capital attainment, it is dominated by a merit-based subsidy. My findings suggest that the ``crisis'' of college noncompletion could be addressed with policies that affect students' work-study decisions.
The second chapter studies the contribution of housing to the evolution of wealth and inequality in Canada during the recent housing boom. Combining data on household assets and quality-adjusted house prices with a portfolio share model, we estimate housing demand, mortgage demand and net worth in the absence of a housing boom. Increased wealth from the housing boom for low-earning and young households has been driven by an increase in the quantity of housing they own, whereas appreciation has been more important for older, affluent households. These effects vary considerably across cities. We also find that the housing boom in Canada has mitigated both wealth inequality and inequality of owner-occupied housing between high and low income households, as well as young, middle-aged, and older households.
The third chapter studies the comparative development of settlements in Newfoundland, Canada after the incorporation of local governments, beginning in the 1950s. Earlier settlements, from the period of Admiralty Rule, were established with essentially no state, whereas later settlements, from the Dominion of Newfoundland, were established with only a centralized government. My results suggest that earlier settlements declined less slowly after incorporating local governments compared to more recent ones. I attribute this result to the lack of a state in early settlements crowding in the social capital that supports long-run institutional development.
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ProQuest PhD and Master's Theses International Dissemination Agreement
Intellectual Property Guidelines at Queen's University
Copying and Preserving Your Thesis
This publication is made available by the authority of the copyright owner solely for the purpose of private study and research and may not be copied or reproduced except as permitted by the copyright laws without written authority from the copyright owner.
CC0 1.0 Universal