A great thread on the evidence regarding human capital vs. signaling explanations of the return to higher education.
Erika McEntarfer
(1/n) Holding the coursework constant but changing whether there's a diploma has no effect on wages:
www.jstor.org/stable/10.10...
Damon Clark, Paco Martorell, The Signaling Value of a High School Diploma, Journal of Political Economy, Vol. 122, No. 2 (April 2014), pp. 282-318
www.jstor.org
David Slichter
