There is plenty of individual-level evidence, based on the estimation of Mincerian equations, showing that better-educated individuals earn more. This is usually interpreted as a proof that education raises labour productivity. Some macroeconomists, analysing cross-country time series, also...

This paper is motivated by the fact that nearly half of U.S. college students drop out without earning a bachelor's degree. Its objective is to quantify how much uncertainty college entrants face about their graduation outcomes. To do so, we develop a quantitative model of college choice. The...

This paper studies the effect of graduating from college on lifetime earnings. We develop a quantitative model of college choice with uncertain graduation. Departing from much of the literature, we model in detail how students progress through college. This allows us to parameterize the model...

In the last decades, OECD labor markets faced important labor supply changes with the arrival of women and the cohorts of the baby-boom. Using a survey where workers declare their true employment experience, this paper argues that these supply trends imply more inexperienced workers. It then...

This paper aims at explaining why countries with comparable levels of education still experience notable differences in terms of R&D and innovation. High skilled migration, ultimately linked to differences in R&D costs, might be responsible for the persitence of such a gap. In fact, in a model...

This paper provides an additional channel through which inequality may influence growth, when labor migration is taken into account. In fact, we show that human capital distribution is crucial to determine whether allowing migration of the most skilled workers from a developing country may be...