Educational attainment and cohort size.

@article{Stapleton1988EducationalAA,
  title={Educational attainment and cohort size.},
  author={David C. Stapleton and Douglas J. Young},
  journal={Journal of labor economics},
  year={1988},
  volume={6 3},
  pages={
          330-61
        }
}
"We argue that the postwar baby boom [in the United States] caused substantial fluctuations in both the economic rewards to education and educational attainment over the last 3 decades. If substitutability between young and old workers diminishes with education, the present value of lifetime earnings for a boom cohort is depressed more for highly educated workers, reducing incentives for educational attainment. The opposite is true for pre- and postboom cohorts. The diminishing substitutability… CONTINUE READING

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