Table 1.
Model 1 | Model 2 | Model 3 | Model 4 | |
---|---|---|---|---|
1976–1998 | 2000–2018 | |||
H1: Absolute Value of Education Hypothesis | H2: Relative Value of Education Hypothesis | H3: Pre-2000 Interaction Effect Hypothesis | H4: Post-2000 Interaction Effect Hypothesis | |
Years of Education | 0.191*** | 0.185*** | 0.140*** | 0.189*** |
(0.014) | (0.013) | (0.018) | (0.022) | |
Educational Rank | 0.007*** | 0.006*** | 0.001 | 0.006 |
(0.001) | (0.001) | (0.002) | (0.003) | |
Years of Education X Education Rank | 0.001** | 0.000 | ||
(0.000) | (0.000) | |||
Age | 0.094*** | 0.095*** | 0.111*** | 0.076*** |
(0.007) | (0.006) | (0.004) | (0.006) | |
Age Squared | − 0.001*** | − 0.001*** | − 0.001*** | − 0.000*** |
(0.000) | (0.000) | (0.000) | (0.000) | |
Female | 0.079*** | 0.079*** | 0.061** | 0.109*** |
(0.021) | (0.020) | (0.023) | (0.027) | |
African American | 0.330*** | 0.329*** | 0.212*** | 0.435*** |
(0.066) | (0.068) | (0.063) | (0.082) | |
Asian American | − 0.992*** | − 0.984*** | − 0.693*** | − 0.999*** |
(0.074) | (0.067) | (0.126) | (0.059) | |
Other Race | − 0.466*** | − 0.466*** | − 0.633*** | − 0.364*** |
(0.098) | (0.099) | (0.163) | (0.106) | |
Married | 0.556*** | 0.554*** | 0.544*** | 0.569*** |
(0.020) | (0.020) | (0.019) | (0.024) | |
(Intercept) | − 5.260*** | − 5.167*** | − 5.052*** | − 5.105*** |
(0.164) | (0.133) | (0.123) | (0.250) | |
Pseudo R-squared | 0.133 | 0.133 | 0.121 | 0.140 |
Observations | 1,538,904 | 1,538,904 | 861,663 | 677,241 |
AIC | 3,192,273,152.209 | 3,193,272,258.128 | 1,630,998,186.424 | 1,562,257,929.744 |
BIC*** | 3,192,273,789.031 | 3,193,272,894.950 | 1,630,998,443.090 | 1,562,258,158.259 |
Log Likelihood | − 1,596,136,524.105 | − 1,596,636,077.064 | − 815,499,071.212 | − 781,128,944.872 |
Unstandardized coefficients are presented, and robust standard errors are shown in parentheses for each coefficient, with clustering by educational environment (state and year). Year dummies are not shown in this Table. The results of the interaction terms between years of education and year dummies are not shown in Model 1or Model 2, while the interaction terms between educational rank and year dummies are not shown in Model 3 or 4. The full model results are available in Appendix 1, Table 4. Significance level ∗ , ∗ ∗ , and ∗ ∗ ∗ indicate zero is not covered by the 90, 95, and 99 percent confidence interval, respectively