Asymmetric effects of housing wealth on college enrolment |
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| Authors: | Meagan McCollum Gregory B Upton Jr |
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| Institution: | 1. Department of Real Estate, Baruch College, Zicklin School of Business, New York, NY, USA;2. Center for Energy Studies, Louisiana State University, Baton Rouge, LA, USA |
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| Abstract: | We investigate the impact of housing wealth, credit availability and financial distress on college enrolment decisions. We find that housing wealth is negatively related to enrolment in public schools and positively related to enrolment in private schools. This evidence suggests that, on average, students substituted away from private schools towards public institutions during the recent financial crisis. |
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| Keywords: | College enrolment mortgages real estate household finance |
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