In the large empirical literature that investigates the causal effects of education on outcomes such as health, wages and crime, it is customary to measure education with years of schooling, and to identify these effects using the exogenous variation provided by school reforms increasing...

I use the European Community Household Panel to ask whether unemployment affects the relationship between education and subsequent earnings growth. show that individuals with more education have more to lose in terms of subsequent earnings growth from the experience of unemployment. This result...