permanent endowments as well as on education. We find evidence of statistically significant complementarity, i.e. the higher …

We model the joint distribution of (i) individual education trajectories, defined by the allocation of time (semesters …

effects of real (as opposed to relative) family income on education have practically vanished between the early 1980's and the … unobserved characteristics, a $300,000 differential in family income generated more than 2 years of education in the early 1980's …

. Education is a good option for some, but not for all. Implications for mechanism design and wage support schemes are discussed. …

This paper considers education investment and public education subsidies in closed and open economies with an … extortionary government. The extortionary government in a closed economy has incentives to subsidize education in order to overcome … their education policies if highly productive labor is fully mobile. Extortionary governments' incentives for education …