The authors extend the standard public goods game in a variety of ways, in particular by allowing for endogenous preference over institutions and by studying the relationship between individual types, their preferences, and later behavior within the various institutional environments. They...

Dishonest acts are all too prevalent in day-to-day life. In the current review, we examine some possible psychological causes for such dishonesty that go beyond the standard economic considerations of probability and value of external payoffs. We propose a general model of dishonest behavior...

This paper presents a dynamic model of the decision to pursue a college education in which students face uncertainty about their future income stream after graduation due to unobserved heterogeneity in their innate scholastic ability. After students matriculate and start taking exams, they...

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Boston Children's Museum's Early Childhood Summit 2013: Innovation and Opportunity, Federal Reserve Bank of Boston, Boston, Massachusetts, April 5, 2013.

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the New England Board of Higher Education's "New England Works" summit on bridging higher education and the workforce, Boston, Massachusetts, November 7, 2011

Affordable higher education is, and has been, a key element of social policy in the United States with broad bipartisan support. Financial aid has substantially increased the number of people who complete university—generally thought to be a good thing. We show, however, that making education...

The returns to college are substantial, including increased earnings and public benefits, such as better health and increased involvement in public service and giving. As a result, since the introduction of the Guaranteed Student Loan program in 1965 and the Pell Grant in 1972, the federal...

This study quantifies one important part of the economic return to public investment in college education, namely, the fiscal benefits associated with greater college attainment. College graduates generally pay much more in taxes than those not going to college. Government expenditures are also...