. The quantity and quality are jointly set by a government agency wishing to maximize the quality of basic education per … stages of education: basic and advanced (college), the latter being required of teachers. The cost of hiring teachers is … workers, hence to the college premium. We show that this will exacerbate the negative trends in the quality of basic education …

In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … enhancing the quality of education. The necessary expenditures are optimally financed by regressive tuition fees and the net …

positively skewed. Our best guess of ex ante risk in university education is a coefficient of variation of about 0.3, comparable …

that student interactions outside the classroom—especially in adolescence—may be an important factor in the education …

the level of special education provided. …

, enrollment in post-compulsory education, and occupational choices. By using student-level administrative data on achievement …