This paper addresses the intergeneration transmission of education and investigates the extent to which early school leaving (at age 16) may be due to variations in permanent income, parental education levels, and shocks to income at this age. Least squares estimation reveals conventional...

We study the intergenerational effects of maternal education on children's cognitive achievement, behavioral problems, grade repetition and obesity. We address endogeneity of maternal schooling by instrumenting with variation in schooling costs when the mother grew up. Using matched data from...

Monetary developments of recent decades began with much promise with inflation targeting by independent central banks; the financial crisis of 2007 ushered in a period of great monetary instability. There are lessons for a return to more stability. Central banks need to stabilize money supply...