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Title: Essays in Consumer Finance
Resulting in 1 citation.
1. Weidner, Justin
Essays in Consumer Finance
Ph.D. Dissertation, Department of Economics, Princeton University, 2017
Cohort(s): NLSY97
Publisher: ProQuest Dissertations & Theses (PQDT)
Keyword(s): College Cost; College Graduates; Debt/Borrowing; Earnings; Student Loans

Permission to reprint the abstract has not been received from the publisher.

In the third chapter, I use survey data and an estimated model of occupational choice to assess the impact of rising student debt on college graduates' earnings. I document a negative relationship between graduates' debt and income that is not explained by common joint determinants. The primary mechanism is debt induces graduates to enter employment faster and to select jobs in unrelated fields, resulting in lower income compared to debt-free peers. I also find that the rise in debt has contributed to income stagnation and basing debt repayment on income would likely benefit graduates, as it would be less distortionary on occupational choices.
Bibliography Citation
Weidner, Justin. Essays in Consumer Finance. Ph.D. Dissertation, Department of Economics, Princeton University, 2017.