This paper develops a public education scheme that takes uncertainty aspects of private educational investments explicitly into account. In the author’s framework, the social merits of public education schemes are related to the lack of markets in which students can insure against educational...

The Anticipation-Action-Reflection (AAR) cycle is an iterative learning process whereby learners continuously improve their thinking and act intentionally and responsibly, moving over time towards long-term goals that contribute to collective well-being. Through planning, experience and...

This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that neglecting heterogeneity and dynamics can lead to misleading...

On average across 15 OECD countries, a 30-year-old male tertiary graduate can expect to live another 51 years, while a 30 year-old man who has not completed upper secondary education can expect to live an additional 43 years. A similar comparison between women in the two educational groups...

Most OECD countries use choice and competition within their education system. They give students and their families a choice of school and university, and ensure that funding follows these choices. The same is often true of pre-school and adult learning and skills services. They increasingly...

Education is the key to economic, social and environmental progress, and governments around the world are looking to improve their education systems. The future of education in the 21st century is not simply about reaching more people, but about improving the quality and diversity of educational...