This study examines the impact of fluctuations in the unemployment rate before high school graduation on educational attainment measured 30 years later. I find evidence that important heterogeneity is masked by estimating average effects across the ability distribution. Using data from the 1979 National Longitudinal Survey of Youth, this analysis…

This paper documents changes in the entire ability distribution of individuals entering the teaching profession using the 1979 and 1997 cohorts of the National Longitudinal Survey of Youth and a constructed Armed Force Qualifying Test score that allows direct comparison of ability between cohorts. Such direct comparison between cohorts was…