Replication data for: The Nature of Credit Constraints and Human Capital

Alexander Monge-Naranjo & Lance J. Lochner
We develop a human capital model with borrowing constraints explicitly derived from government student loan (GSL) programs and private lending under limited commitment. The model helps explain the persistent strong positive correlation between ability and schooling in the United States, as well as the rising importance of family income for college attendance. It also explains the increasing share of undergraduates borrowing the GSL maximum and the rise in student borrowing from private lenders. Our framework...
This data repository is not currently reporting usage information. For information on how your repository can submit usage information, please see our documentation.