James Monks

The returns to individual and college characteristics: Evidence from the National Longitudinal Survey of Youth

There is growing interest in the heterogeneity of earnings among college graduates. This study examines earnings differentials across both individual and institutional characteristics. Using data from the National Longitudinal Survey of Youth, it can be seen that graduates from highly or most selective colleges and universities earn significantly more than graduates from less selective institutions. Additionally, graduates from graduate degree granting and research universities, and private universities earn more than their counterparts from liberal arts colleges and public institutions. There is, however, variation across racial and gender groups in the returns to individual and college characteristics. These findings are important in an educational environment where the (market) value of a liberal arts education is under scrutiny, and where the higher costs of private versus public colleges and universities are being questioned.

Patterns of giving to one's alma mater among young graduates from selective institutions

Abstract Despite the importance of alumni generated revenue, the general characteristics and motivation of individuals who are more likely to give to their alma mater are not well known outside of analyses of graduates of particular institutions. This paper examines individual characteristics that are correlated with alumni giving across graduates from 28 institutions in an attempt to identify attributes and experiences of graduates that are more likely to make donations to their alma mater. The objective of this analysis is not simply to determine the current characteristics of an individual that are associated with alumni giving, but rather to identify individual characteristics that may be observable to campus administrators and are correlated with alumni generosity.

The impact of college timing on earnings

Abstract Adult students, those 25-yrs-old and over, currently constitute 43% of all college students. This paper investigates the importance of the timing of schooling in determining earnings. It is revealed that those who complete college at a later age receive a significantly smaller initial increase in earnings than those who acquire their education earlier in life. This result is important for both personal human capital investment decisions and policy makers.

Trends in Voluntary and Involuntary Job Turnover

There has been some controversy recently about whether and how much job security has been declining in the United States. This paper uses data from the National Longitudinal Surveys to show that young men became more likely to change jobs over the period from 1971 to 1990. For whites, this increase is mostly attributable to an increase in the probability of involuntary job change. For non-whites, the probability of voluntary and involuntary job change both increased.

Loan Burdens and Educational Outcomes.

Abstract There is widespread concern among educators, policy makers, and students that the current generation of college graduates is being unduly burdened with debt. This study examines the impact of debt on the educational outcomes of recent graduating seniors from a set of private, expensive, highly selective colleges and universities. In particular, I investigate the relationship between borrowing levels and the likelihood of pursuing a graduate degree, a professional degree, and the career plans of the college class of 1998. The central conclusion drawn from this analysis is that students do not appear to be significantly influenced by their debt.

The effect of uncertain returns on human capital investment patterns

This paper formalizes a human capital model with a dynamic and uncertain rental rate of human capital. As a result, investment in human capital may no longer decline monotonically over time as is predicted by the standard Ben-Porath version of the human capital model. This model provides a plausible, theoretical explanation for the recent trend of investment in higher education later in the life cycle which is consistent with the empirically established, increasing returns to education.

The Impact of Class Size on Outcomes in Higher Education

Abstract Numerous studies have investigated the impact of class size on student outcomes. This analysis contributes to this discussion by isolating the impact of class size on student outcomes in higher education by utilizing a natural experiment at a selective institution which enables the estimation of class size effects conditional on the total number of students taught by a faculty member. We find that class size negatively impacts student assessments of courses and instructors. Large classes appear to prompt faculty to alter their courses in ways deleterious to students.

Job turnover among university presidents in the United States of America

This paper examines job turnover among US university presidents from 2001–2006. Using data from the American Council of Educations Survey of American College Presidents, this analysis finds that public (state supported) university presidents’ odds of leaving office over a five-year period are approximately 50 per cent higher than are their private (independent) university presidents. This job instability appears to be driven primarily by the higher propensity for public university presidents to leave one institution to become president at another institution. The flatter returns to time in office experienced by public university presidents likely motives this heightened job turnover. Increased competition for university presidents is likely to increase the returns to job mobility in the coming years.

Monopsony and Salary Suppression: The Case of Major League Soccer in the United States

Top tier professional soccer in the United States is operated by Major League Soccer (MLS). The MLS was established and operates under a single entity structure, such that all players negotiate and sign contracts with the league rather than with individual teams. This monopsonistic structure was designed to eliminate competition for players across teams within the league and thus allow the league to suppress player salaries. This paper investigates how effective the MLS has been in achieving this goal and finds that the MLS devotes only about 25 percent of its revenues to player salaries, compared to 50 to 60 percent in most other U.S. professional sports and professional soccer leagues abroad.

Gender differences in earnings among economics and business faculty

Abstract This research note finds significant earnings differentials across gender that can not be explained by differences in individual, job, or institutional characteristics. Specifically, we find that female economics and business faculty earn between 1.3 and 7.4% less than would be predicted in the absence of discrimination.