We apply theories of capital market failure to ana1yze

The paper examines the effect of heterogeneity in individual human capital formation on cross-country income inequality. It considers a two-country model of overlapping generation heterogeneous economies with the following features: (1) individuals are heterogeneous with respect to inborn...

The article is forthcoming in <A href="http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VFD-4PNM471-3&_user=499884&_coverDate=09%2F15%2F2007&_alid=770199288&_rdoc=1&_fmt=high&_orig=search&_cdi=6008&_sort=d&_docanchor=&view=c&_ct=1&_acct=C000024499&_version=1&_urlVersion=0&_userid=499884&md5=8492c97b78d795d5deec06a94b66422d">Labour Economics</A>.<p><P>

This discussion paper has resulted in ch. 4 of <A href="http://books.google.nl/books?hl=nl&lr=&id=edksC0nRPZYC&oi=fnd&pg=PR7&dq=allesintitel:+%22Labor+Market+Institutions+and+Public+Regulation%22&ots=-umxBkjdnT&sig=oeFDTjhnSeo-w-4nuTjTJpuaUr8#v=onepage&q=&f=false">'Labor Market Institutions and Public Regulation'</A>, pp. 123-61, (Jonas Agell, Michael Keen, Alfons Weichenrieder (eds.)), 2004, MIT Press, 228 p.

The paper studies the effects of cross-country differences in the production process of human capital on income distribution and growth. Our overlapping gen- erations economy has the following features: (1) consumers are heterogenous with respect to parental human capital and wealth; (2)...

To raise school attendance, many programs in developing countries eliminate or

This paper identifies pivotal factors behind individual decision-making in the transition from high school to post-secondary education in the Netherlands. We apply a multinomial logit framework to individual data on post-secondary education choices. Specifically, our modeling approach...

Studies on the determinants of the demand for higher education typically emphasize the relevance of socio-economic factors, but leave the spatial dimensions of the prospective students’ university choices largely unexplored. In this study, we investigate the determinants of university entrance...

Impact evaluations of development programmes usually focus on a comparison of participants with a control group. However, if the programme generates externalities for non-participants such an approach will capture only part of the programme’s impact. Based on a unique large-scale quantitative...

We develop a simple human capital model for optimum schooling length when earnings are stochastic, and highlight the pivotal role of risk attitudes and the schooling gradient of earnings risk. We use Spanish data to document the gradient and to estimate individual response to earnings risk in...