In the education literature, it is generally acknowledged that both credit and insurance for students are rationed. In … students who have private information on their ability to learn and can decide to default on debt. We show that the combination … student risk aversion is high, high ability students are separated and student loan contracts involve a limited amount of …

discretion about the tuition fee level, centralization leads to the efficient quality, fully extracting the income gains from the …

In this note, we present a novel channel for a brain gain. Students from a developing country study in a developed host … country. A higher permanent migration probability of these students appears to be a brain drain for the developing country in … benefits accrue in this host country. A higher education quality raises in turn the human capital of the returning students. As …

children and spousal specialization in home production of public goods and child care. We then study how child care provision …

scenario concerning the “harmony” of family relations. Children are purely selfish, and neither side can make credible …