This paper establishes a new fact about educational production: ordinal academic rank during primary school has lasting impacts on secondary school achievement that are independent of underlying ability. Using data on the universe of English school students, we exploit naturally occurring...

This study focuses on the role of heterogeneity in network peer effects by accounting for network-specific factors and different driving mechanisms of peer behavior. We propose a novel Multivariate Instrumental Variable (MVIV) estimator which is consistent for a large number of networks keeping...

We study the welfare effects of school district consolidation, i.e. the integration of disjoint school districts into a centralised clearinghouse. We show theoretically that, in the worst-case scenario, district consolidation may unambiguously reduce students' welfare, even if the...

That historical inequality can affect long run macroeconomic performance has been argued by a large literature on endogenous inequality using models of indivisibilities in occupational choice, in the presence of borrowing constraints. These models are characterized by a continuum of steady...

Curriculum tracking, the separation of secondary school students into academic and vocational tracks, correlates positively with pretracking achievement in both British and international data. I argue that this correlation is caused by the incentives emanating from the track placement decision....

Little is known about how socioeconomic characteristics of executive teams affect corporate governance in banking. Exploiting a unique dataset, we show how age, gender, and education composition of executive teams affect risk taking of financial institutions. First, we establish that age,...

Incentives to invest in higher education are affected by both the direct wage effect of human capital investments and the indirect wage effect resulting from lower unemployment risks and shorter spells in unemployment associated with higher educated. We analyse the returns to education in...

This paper evaluates the effects of a high school curriculum reform on students ́probability to enroll at university and to choose Science, Technology, Engineering or Mathematics (STEM) as college major. The reform that was introduced in one German state increased the degree of difficulty to...

This paper evaluates the effects of a high school curriculum reform that was introduced in one German state on high school dropout. The reform increased the standards of the curriculum by reducing the freedom of choice in course selection (amongst other things) resulting in an increase in the...

In aktuellen Prognosen der Lern- und Einkommensverluste durch Corona-bedingte Schulschließungen spielen die Kurzschuljahre zur bundesweiten Vereinheitlichung des Schuljahresbeginns bzw. die Verlängerung der Vollzeitschulpflicht von acht auf neun Jahre in den 1960er Jahren eine prominente...