In the United Kingdom, the increment to income yielded by an additional year of schooling declines as the occupational status of the worker's father rises. In this note the relationship between family background and the returns to schooling is measured in Kenya and Tanzania. In contrast to the...

It has long been agreed, that the economic value of unemployed labor is less than its wage rate. Shadow-pricing of such labor is common practice in economic analysis. The usual outcome of such shadow-pricing is that the economic rate of return of a project is enhanced. But this is not always the...