Lemelin, Clément; Prud’homme, Philippe - In: L'Actualité Economique 70 (1994) 1, pp. 27-41
Economists have grown accustomed to measuring the profitability of education with an all-purpose rate of return. Even though the benefits of education are received in the future, the rate of return is obtained by comparing costs and increments in earnings observed in a single period. Since...