We study life-cycle educational transitions in an education system characterized by early tracking and institutionalized branches of academic and vocational training but with the possibility to revise earlier decisions at later stages. Our model covers all major transitions ranging from...

This paper extends standard models of work-related training by explicitly incorporating workers' locus of control into the investment decision. Our model both differentiates between general and specific training and accounts for the role of workers and firms in training decisions. Workers with...

The level of progression of an individual's educational or labor market career is a potentially important factor for family formation decisions. We address this issue by considering the effects of a particular college admission system on family formation. We show that the admission system...

We examine the effects of a compulsory schooling reform on child labor in Turkey, which extended the duration of schooling from 5 to 8 years while substantially improving the schooling infrastructure. We employ four rounds of Child Labor Surveys with a very rich set of outcomes. The reform...

Recent correlational studies and media reports have suggested that sleep regularity – the variation in the amount of sleep one gets across days – is a stronger determinant of student success than sleep duration – the total amount of sleep one receives. We identify the causal impacts of...

This paper provides new evidence on how the presence of immigrant peers in the classroom affects native student achievement. The analysis is based on longitudinal administrative data on two cohorts of vocational training students in Italy's largest region. Vocational training institutions...

Many policy makers and economists argue that financial literacy is key to financial well-being. But why do many individuals remain financially illiterate despite the apparent importance of being financially informed? This paper presents results of a field study linking individual decisions to...

In the last decade, the most popular policy tool used to increase human capital in developing countries has been the conditional cash transfer program. A large literature has shown significant mean impacts on schooling, health, and child labor. This paper examines heterogeneous effects using...

Using a model of O-ring production function, the paper demonstrates how certain communities can get caught in a low-literacy trap in which each individual finds it not worthwhile investing in higher skills because others are not high-skilled. The model sheds light on educational policy. It is...

This paper estimates the rate of return to the High/Scope Perry Preschool Program, an early intervention program targeted toward disadvantaged African-American youth. Estimates of the rate of return to the Perry program are widely cited to support the claim of substantial economic benefits from...