The Hamilton Project > Papers

Is Starting College and Not Finishing Really That Bad?

The Hamilton Project — 2013-06-06T14:51:34+00:00

In recent years there has been increasing concern about students who begin two- and four-year college programs but fail to complete a degree—particularly in light of the large increase in student debt and concerns about the high costs of college. In this month’s employment analysis, The Hamilton Project examines whether starting college is worth it for students who fail to complete a degree. The findings show that students who complete “some college” earn about $100,000 more throughout their lifetime than their peers with only a high school education, and the rate of return to their investment exceeds the historical return on practically any conventional investment, including stocks, bonds, and real estate.

Should the United States Have 2.2 Million More Jobs?

The Hamilton Project — 2013-05-03T12:45:32+00:00

Following the last five recessions in U.S. history, the economy added government jobs—an average of 1.7 million, in fact—that helped spur our economic recovery. In contrast, during our recovery from the Great Recession, the economy has shed more than 500,000 government jobs. In this month’s employment analysis, The Hamilton Project explores the trajectory of public-sector employment since the Great Recession. The findings show that if the policy response to this recession had been similar to the response after other recent recessions, the economy would have about 2.2 million more jobs today.

Using Data to Improve the Performance of Workforce Training

The Hamilton Project — 2013-04-17T10:58:02+00:00

Workforce training programs have the potential to improve the lives and incomes of millions of Americans by lifting many into the middle class and preventing others from falling out of it. Despite their promise, however, too many workers enroll in courses that they do not complete or complete courses that do not lead to better jobs, reducing the benefits to workers and the economic return to workforce investments. Louis Jacobson of New Horizons Economic Research and Robert LaLonde of the University of Chicago propose a competition to increase the return on training investments by developing the data and measures necessary to provide the information prospective trainees need, by presenting the information in user-friendly “report cards,” by providing help for prospective trainees to use the information effectively, and by creating incentives for states to implement permanent information systems once they prove cost-effective.

Building on Recent Advances in Evidence-Based Policymaking

The Hamilton Project — 2013-04-17T10:52:45+00:00

Over the past decade, and particularly over the past five years, new government strategies have begun to emerge—at the federal, state, and local levels—that offer the potential of simultaneously making better use of taxpayer dollars and speeding up progress in addressing serious social problems. Jeffrey Liebman of Harvard University discusses several of these strategies and outlines five steps that policymakers can take to better inform their work with evidence. He also proposes a grant competition that identifies and encourages innovation in ten social policy priority areas as well as federal support for state and local Pay for Success initiatives.

An Evidence-Based Approach to Improving Worker Training Programs

The Hamilton Project — 2013-04-05T11:42:29+00:00

There is significant pressure facing policymakers at all levels of government to fund programs that provide the best results for the best value. Worker training programs provide one example of where better use of evidence could dramatically improve outcomes for many Americans. In this month’s employment analysis, The Hamilton Project explores how the use of evidence and data could help workers determine which training programs can most effectively help them find employment and increase their earnings.

Sequestration’s Threat to America’s Most Vulnerable

The Hamilton Project — 2013-03-08T14:40:33+00:00

In this month’s employment analysis, The Hamilton Project looks at current poverty trends in the United States, the important role of government support programs, and how sequestration could remove critical aspects of the safety net in the midst of continued labor-market weakness. The Project finds sequestration could throw many American families back into poverty during this sensitive period of economic recovery by cutting the very programs that are helping them stay above water.

Increasing the Role of the Private Sector in Housing Finance

The Hamilton Project — 2013-02-26T04:28:30+00:00

Changes in the government’s role in housing finance could contribute to budget savings. Phillip Swagel’s proposal to increase the role of private capital in housing finance improves incentives for risk taking and investment, reduces taxpayer exposure to risk, and fosters competition and innovation in housing finance.

Reforming Federal Support for Risky Development

The Hamilton Project — 2013-02-26T04:22:16+00:00

David Conrad and Ed Thomas explore how the National Flood Insurance Program and other federal disaster relief programs could be reformed to better align the costs and benefits of living in disaster-prone areas and help put the budget on more sound footing. This proposal aims to reduce budget costs of natural disasters and reduce risk to life and property of Americans living in disaster-prone areas.

An Evidence-Based Path to Disability Insurance Reform

The Hamilton Project — 2013-02-26T04:21:40+00:00

Jeffrey Liebman and Jack Smalligan propose a path to improve our disability insurance system, through demonstration projects and administrative changes, that could potentially increase employment and economic engagement among workers with disabilities and provide more rapid and reliable resolution of disability insurance claims for those who cannot work.

The Many Benefits of a Carbon Tax

The Hamilton Project — 2013-02-25T20:48:23+00:00

Adele Morris proposes a carbon tax as a new source of revenue that could also help address climate change. She suggests that a carbon tax would reduce the buildup of greenhouse gasses, replace command-and-control regulations and expensive subsidies with transparent and powerful market-based incentives, and promote economic activity through reduced regulatory burden and lower marginal tax rates.