We estimate changes in the productivity of schooling for six East Asian countries. Our productivity measure is based on changes in the relative price of schooling. A rising price of schooling relative to other labor-intensive service sectors should indicate declining relative schooling...

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The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the disappointingly small effect of many past reform measures on unemployment, and the political difficulties in implementing more extensive reform programs. We argue that the heart of...