This paper presents the results of a randomized experiment analyzing the use of vouchers for adult training. In 2006, 2,400 people were issued with a training voucher which they were entitled to use in payment for a training course of their choice. User behavior was compared with a control group...

The aim of this paper is to estimate income advantages arising from publicly provided education and to analyse their impact on the income distribution in Germany. Using representative micro-data from the SOEP and considering regional and education-specific variation, from a cross-sectional...

In this study I examine the relationship between accountability (e.g., state sanctions for poor performance, or the presence of goals required by the district) and public secondary principal pay and school performance. Though such incentives and standards are increasingly common, the existing...

This paper argues that skill formation is a life-cycle process and develops the implications of this insight for Scottish social policy. Families are major producers of skills, and a successful policy needs to promote effective families and to supplement failing ones. We present evidence that...

Student loans schemes are in operation in more than seventy countries around the world. Most loans schemes benefit from sizeable built-in government subsidies and, in addition, are subject to repayment default and administrative costs that are not passed on to student borrowers. We probe two...

This paper provides evidence of heterogeneity in the returns to higher education in the UK. Attending the most prestigious universities leads to a wage premium of up to 6% for males. The rise in participation in higher education also led to a greater sorting of students and an increase in the...

The 1993 Survey of Household Income and Wealth, a representative survey of the Italian population covering 24,000 individuals, reports detailed information on children attendance of public and private schools and parents’ self-assessment of the quality of public schools in the city of...

The impact of school resources on the quality of education in developing countries may depend crucially on whether resources are targeted efficiently. In this paper we use a randomized experiment to analyze the impact of a school grants program in Senegal, which decentralized a portion of the...

This paper examines the potential costs and benefits associated with a risk-sharing policy imposed on all higher education institutions. Under such a program, institutions would be required to pay for a portion of the student loans among which their students defaulted. I examine the predicted...

We estimate the impact on objective measures of financial literacy of a 10-hours financial education program among 15-year old students in compulsory secondary schooling. We use a matched sample of students and teachers in Madrid and two different estimation strategies. Firstly, we use...