Based on a theoretical consideration of human capital production technology, this study empirically investigates the growth implication of dispersion of population distribution in terms of educational attainment levels. Based on a pooled 5-year interval time-series data set of 94 developed and...

The importance of social trust on economic growth has been suggested by many empirical works. This paper formalizes the concept of social trust and studies its formation process in a game theoretic setting. It provides plausible explanations for a wide range of empirical and experimental...

This paper evaluates the return to formal education over the life-cycle and compare it to informal, on the job training. More specifically, we assess the apprenticeship system in Germany by comparing the long run value of education choices and subsequent labor market outcomes for apprentices and...

This paper estimates dynamic random effects models for intakes by 100 Kenyan school children (6-9 years) of dietary energy, protein, calcium, iron, zinc, niacin, riboflavin, thiamin, and vitamins A, C, D, and E within a multivariate longitudinal framework. The explanatory variables were...

Researchers, policymakers, and parents are giving education reforms involving expanded school choice increased attention. Many view the heightened competition that would presumably result from such reforms as a panacea for the ills currently plaguing the public education system in the US....

The state of Michigan radically altered its school finance system in 1994. This was a legislature-led reform that took place somewhat unexpectedly and without the intervention of any courts. The new plan, called Proposal A, significantly increased the state share of K-12 spending and entailed...

We use the PISA student-level achievement database to estimate international education production functions. Student characteristics, family backgrounds, home inputs, resources, teachers and institutions are all significantly related to math, science and reading achievement. Our models account...

This paper studies the implications of black-white differences in uninsurable labor market risk for racial differences in the value of human capital. Two approaches to estimate the value of human capital in the presence of heterogeneous labor market risk and preferences for risk are implemented....

In this paper we adopt Granovetter's view expressed in his famous article ''Economic Action and Social Structure: The Problem of Embeddedness'' , where he argues that the concept of man in economics is extremely undersocialized because it ignores the importance of social networks. In so doing...

We model how excess demand or excess supply can be generated in the presence of a social network of interactions, where agents are subject to external information and individual incentives. In this context we study price fluctuations in financial markets under equilibrium. In particular, we...