Replication package: Conversion Is Not Capacity: Online Expansion, Institutional Incumbency, and the U.S. Master's Degree Boom, 2014-2024

"Conversion Is Not Capacity: Online Expansion, Institutional Incumbency, and the U.S. Master's Degree Boom, 2014-2024." A single self-contained Python script downloads all raw IPEDS files from NCES, builds the panel of 2,392 master's-granting institutions (2014-2024), estimates every model (PPML event studies, trend-adjusted specifications, growth decompositions, field-level heterogeneity, enrollment margin), and verifies all 52 statistics reported in the article. Includes the constructed institution-year panel, full results with input checksums, the CIP co-presence crosswalk, and the article figures. Keywords: IPEDS; master's degrees; online education; distance education; graduate education; Poisson regression; event study; higher education