In this study microdata from the Guatemala household Survey are analysed using a testable model of endogenous growth in order to detect any external effects of education. In the first stage of the analysis, a wage equation is estimated and the internal effects of education are filtered out. In...

Measurements of wage discrimination, based on gender, age, race or religion, are important for empirical economists. Traditional approaches to the measurement of wage discrimination do not set up the question of discrimination as a hypothesis that can be statistically tested. Furthermore, they...

This article investigates the impact of implementing an explicit deposit insurance scheme on the likelihood of banking crisis in countries with well-liberalized financial systems. We estimate the probability of a systemic banking crisis using a multivariate logit model in which alternative...

Past evidence on the existence Lucas type external effects of education has been, at best, mixed. This study re-visits a two-stage microeconometric approach which allows for the estimation of the external effects of human capital on wages (and therefore productivity). Strong evidence is found of...

Recent findings of non-linearities in the returns to education are cited as evidence of sheepskin effects, but evidence from Guatemala suggests otherwise. While non-linearities in the returns to education exist, it is argued that they are associated with 'threshold' levels.