data mostly contradict the traditional view that education was a leading source of the seismic social phenomenon of … fixed effects account for time-invariant unobserved heterogeneity, education – but not income or urbanization – is …

This paper considers how optimal education and tax policy depends on the risk properties of human capital. It is … positive or a negative education premium. In the same model a positive intertemporal wedge is optimal. Aset of generalizations …, including non-observability of education, non-observability of consumption, and temporal resolution of uncertainty, are then …

that a larger share of Protestants decreased the gender gap in basic education. This result holds when using only the …

Protestant economic history of Becker and Woessmann (2009), where Protestantism first led to better education, which in turn … explanation, where a Protestant work ethic first led to industrialization which then increased the demand for education. …

market. At the same time, education is a time-consuming process, and enrolment and dropout decisions depend on expected … in finding a job. Standard models of job search and education assume that skills can be upgraded instantaneously (and … mostly in the form of on-the-job training) at a fixed cost. This paper models education as a time-consuming process, a …

The interaction between investment in children’s education and parental fertility is crucial in recent theories of the … significant negative causal effect of education on fertility, which is robust to accounting for spatial autocorrelation. The … causal effect of education is identified through exogenous variation in enrollment rates due to differences in landownership …

Justification for policies to encourage investments in education, particularly for individuals at the lower end of the … potentially loss averse around their expected outcome make risky investments in education and we draw on optimal tax theory to … preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …