The Consequences of Letter Grades for Labor Market Outcomes and Student Behavior
利用大学行政数据，通过断点回归设计发现，学生在一门课中获得更好字母等级可使毕业后月收入增加32美元（1.4%），而获得更差等级的学生后续会选择更简单的课程且成绩更低。
I study the consequences of letter grades serving as coarse measures of academic achievement using university administrative data that record both the letter grade and the precise mark (0–100) received for each course that a given student takes. I exploit a regression discontinuity design with marks as the running variable. I find that receiving a better grade in a single class results in USD 32 greater monthly earnings after graduation, a 1.4% increase. I also find that marginal students who receive a worse grade take significantly easier courses and earn lower grades in future semesters.