The Italian economy performs well below the EU average. The reason is a dramatic and persistent low rate of investment, always invoked but never supported by national and supra-national institutions. However, investment to increase the quantity and quality of human capital is key to boost...

This paper is a review of the literature in economics up to the early 1980s on the issue of estimating the earnings return to schooling and labor market experience. It begins with a presentation of Adam Smith's (1776) analysis of wage determination, with the second of his five points on...

Can public university honors programs deliver the benefits of selective undergraduate edu- cation within otherwise nonselective institutions? We evaluate the impact of admission to the Honors College at Oregon State University, a large nonselective public university. Admission to the Honors...

Based on a welfare-maximization model of skilled migration where education generates a positive externality, this paper examines whether the early view regarding brain drain's (BD) negative impact on source countries - and the Bhagwati tax (𝐵𝑇) associated with it - is compatible with the...

This paper examines the impact of the Anglophone Conflict in Cameroon on human capital accumulation. Using high-quality individual-level data on test scores and information on conflict-related violent events, a difference-in-differences design is employed to estimate the conflict's causal...

We consider how the possibility of international migration affects an individual’s educational choices in their home country. Without the opportunity to emigrate abroad people choose their educational investment (and hence their skill level) as we might expect, taking into account the utility...

As China's firms upgrade their position in the quality ladder, vocational education may become more important. In this paper, we study returns to secondary vocational education in China paying attention to individual heterogeneity. We use instrumental variables based on geographical and...

The initial earnings of U.S. immigrants vary enormously by country of origin. Via three interrelated analyses, we show earnings convergence across source countries with time in the United States. Human-capital theory plausibly explains the inverse relationship between initial earnings and...