This paper develops a model in which a continuum of consumers choose from a continuum of locations indexed by school quality. It computes equilibria that are sustained by an equilibrium price function that matches consumers to different locations based on their willingness to pay for school...

Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests, and conclude that modern intelligence tests are well-suited for measuring an important form of a...

Human capital accumulation has long been recognized as critical to economic growth and development. In recent years focus on the intra-household distribution of human capital has intensified both theoretically and empirically. However, connecting the theoretical and empirical literature has been...

We develop an economic growth model in which both the R&D resources to develop new product applications and the market structure of consumption goods manufacturing are determined endogenously. There exists uncertainty with respect to the development date of an inaugural product, although higher...

The purpose of the paper is to investigate the effects of poverty and educational policies on school attendance, child labour and growth. We consider an OLG model, with parental educational choices. It is assumed there is a trade off between child labour and human capital accumulation. If...

A large portion of the rise in the education premium can be explained by a signaling theory of education which predicts that in the future, increases in the education level of the workforce will actually cause the education premium to rise, simply because different workers are being labeled as...

We exploit the 1980 earthquake in southern Italy and the subsequent relief from mandatory military service granted to all males in the regions hit by the seism to estimate the strength of endogenous social interactions in schooling achievements. Preliminary results point to a significant and...

This paper investigates the process by which a cohort of males accumulate human capital via formal education and labor market participation. I use all available annual waves of the 1979 youth cohort of the National Longitudinal Survey of Labor Market Experience (NLSY79) to estimate a dynamic...

The aim of this paper is to analyze, using a hierarchical linear model, the degree to which a system of choice, as the one implemented in Chile since the beginning of the 80’s, can promote student achievement and equity in the social distribution of achievement. Using data from a...

In this paper, we formalize the idea of human capital as the ability to follow and enforce the rules necessary for orderly conduct of economic transactions. People in the US and other developed countries stand in lines while waiting for the bus, etc., while in many developing countries lines...