Degrees matter: New evidence on sheepskin effects in the returns to education

DA Jaeger*, ME Page

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review


    Because many individuals do not complete their degrees in the standard number of years, previous estimates of diploma effects, which have been based only on an individual's years of education, are biased. Using a data set from a matched sample of the 1991 and 1992 March Current Population Survey that has information on both years of education and diplomas received, this paper improves on earlier estimates and finds that using ''true'' information on degree receipt substantially increases estimated sheepskin effects of high school and college degrees. Unlike past research, this paper finds that there are few statistically significant differences in sheepskin effects between race and sex groups The relative returns to Associate's and post-graduate degrees are also examined.

    Original languageEnglish
    Pages (from-to)733-740
    Number of pages8
    JournalReview of Economics and Statistics
    Issue number4
    Publication statusPublished - Nov 1996


    • 1980S
    • WAGES


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