The Signaling Value of a High School Diploma

• 成果类型: Article
• 署名作者: Clark, Damon; Martorell, Paco
• 署名单位: University of California System; University of California Irvine; National Bureau of Economic Research; RAND Corporation; Rand Health
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/675238
• 发表日期: 2014
• 页码: 282-318
• 关键词: regression discontinuity designs; returns

摘要

This paper distinguishes between the human capital and signaling theories by estimating the earnings return to a high school diploma. Unlike most indicators of education (e.g., a year of school), a diploma is essentially a piece of paper and, hence, by itself cannot affect productivity. Any earnings return to holding a diploma must therefore reflect the diploma's signaling value. Using regression discontinuity methods to compare the earnings of workers who barely passed and barely failed high school exit exams-standardized tests that students must pass to earn a high school diploma-we find little evidence of diploma signaling effects.