In contexts such as education and sports, skill-accumulation of individuals over time crucially depends on the amount …

threshold, to estimate causal returns to college education quality. I use a newly constructed dataset, which combines individual …

This paper studies second best policies for education, saving, and labour in an OLG model in which endogenous growth … equilibria are inefficient. The inefficiency is exacerbated if selfish individuals externalize the positive effect of education … on descendents' productivity. It is shown to be second best to subsidize education even relative to the first best if the …

the first place. However, it induces the host country to improve its education quality, as a larger share of the generated … benefits accrue in this host country. A higher education quality raises in turn the human capital of the returning students. As …

Assuming a two-period model with endogenous choices of labour, education, and saving, it is shown to be second …-best efficient not to distort the choice of education. In general this implies distorting the saving decision. Hence a strict order …

This paper reviews empirical evidence, especially from Europe, on how education and training policies can be designed … education and schools over vocational and higher education to training and lifelong learning. The available evidence suggests … deliver best results. Designed this way, education and training systems can advance efficiency and equity at the same time …