Despite declining wage offers for high school graduates early in the COVID-19 Recession, enrollments in 4-year...

 

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Despite declining wage offers for high school graduates early in the COVID-19 Recession, enrollments in 4-year col- leges fell in Fall 2020. One marked difference between the COVID-19 Recession and Figure 4. Percentage of People 15 to 34 Years Old Not Enrolled in College in the Prior Year Enrolled in College Enrolled (percent) 8 7 Not enrolled last year 6 5 4 3. 2 1 Recession Seasonally adjusted unemployment rate (percent) 16 L 14 12 10 8 16 Unemployment rate 4 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Sources: U.S. Census Bureau, Current Population Survey, October 2000-2015; Bureau of Labor Statistics, Labor Force Statistics from the Current Population Survey, Seasonally Adjusted Unemployment Rate, January 2000-December 2015; and National Bureau of Economic Research, U.S. Business Cycle Expansions and Contractions. 2 O Figure 1: College Enrollment Share not in College in Prior Year, 2000-2016 prior recessions is that students could not enjoy on-campus classes and extracurricular activities during the COVID-19 Recession. (i) Using the model with amenities from class, what condition needs to hold in order for workers to reduce college enrollment when the wage offers to high school graduates fell during the pandemic? (ii) Relaxing assumption C, if students from higher-wage families enjoy being on a college campus more than other students, how might the COVID-19 Recession change the average wealth of students who attend college? Despite declining wage offers for high school graduates early in the COVID-19 Recession, enrollments in 4-year col- leges fell in Fall 2020. One marked difference between the COVID-19 Recession and Figure 4. Percentage of People 15 to 34 Years Old Not Enrolled in College in the Prior Year Enrolled in College Enrolled (percent) 8 7 Not enrolled last year 6 5 4 3. 2 1 Recession Seasonally adjusted unemployment rate (percent) 16 L 14 12 10 8 16 Unemployment rate 4 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Sources: U.S. Census Bureau, Current Population Survey, October 2000-2015; Bureau of Labor Statistics, Labor Force Statistics from the Current Population Survey, Seasonally Adjusted Unemployment Rate, January 2000-December 2015; and National Bureau of Economic Research, U.S. Business Cycle Expansions and Contractions. 2 O Figure 1: College Enrollment Share not in College in Prior Year, 2000-2016 prior recessions is that students could not enjoy on-campus classes and extracurricular activities during the COVID-19 Recession. (i) Using the model with amenities from class, what condition needs to hold in order for workers to reduce college enrollment when the wage offers to high school graduates fell during the pandemic? (ii) Relaxing assumption C, if students from higher-wage families enjoy being on a college campus more than other students, how might the COVID-19 Recession change the average wealth of students who attend college?

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