@TechReport{iza:izadps:dp518,
            	author={Carneiro, Pedro and Heckman, James J.},
            	title={The Evidence on Credit Constraints in Post-Secondary Schooling},
            	year={2002},
	month={Jun},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={518},
            	url={https://www.iza.org/publications/dp518},
	abstract={This paper examines the family income—college enrollment relationship and the evidence on
credit constraints in post-secondary schooling. We distinguish short-run liquidity constraints
from the long-term factors that promote cognitive and noncognitive ability. Long-run factors
crystallized in ability are the major determinants of the family income—schooling relationship,
although there is some evidence that up to 8% of the U.S. population is credit constrained in
a short-run sense. Evidence that IV estimates of the returns to schooling exceed OLS
estimates is sometimes claimed to support the existence of substantial credit constraints.
This argument is critically examined.
},
	keywords={human capital;return to education;credit constraints},
            }