By using a nonlinear VAR model, we investigate whether the response of the US stock and housing markets to uncertainty shocks depends on financial conditions. Our model allows us to change the response of the US financial markets to volatility shocks in periods of normal and financial distress....

This paper examines the nature and drivers of Vietnam's paradoxical performance in the Program for International Student Assessment (PISA) – consistently high student achievement despite being the poorest of all participating countries and a centralized education system. We first document...

We examine how selected high school characteristics – including type of diploma – contribute to students' academic success in an American-type university in the United Arab Emirates (UAE). We find no robust evidence that US, UK, and UAE systems of high school diploma produce different...

The external circumstances for universities have been changing rapidly. In order to be competitive, survive, and flourish, universities have shown a growing enthusiasm to generate financial revenues externally. The literature refers to this phenomenon as academic capitalism, defined as the...

Over the last decade, many countries have experienced dramatic increases in university enrolment, which, when not matched by compensating increases in other inputs, have resulted in larger class sizes. Using administrative records from a leading UK university, we present evidence on the effects...

This paper analyzes the impact of a leading entrepreneurship education program on college students' entrepreneurship competencies and intentions using an instrumental variables approach in a difference-in-differences framework. We exploit that the program was offered to students at one location...

This study investigates how being exposed to a field of study influences students' major choices. We exploit a natural experiment at a Swiss university where all first-year students face largely the same curriculum before they choose a major. An important component of the first-year curriculum...

This paper uses the synthetic control method to look at how the L'Aquila earthquake affected subsequent enrolment at the local university. Such an issue is closely related to the economic consequences caused by this event given the large contribution made by the university to the local economy...

Political economists interested in discerning the effects of election outcomes on the economy have been hampered by the problem that economic outcomes also influence elections. We sidestep these problems by analyzing movements in economic indicators caused by clearly exogenous changes in...