This paper aims at formulating a theoretical model of educational attainment which is directly implementable empirically. The conceptual frame-work relies on the human capital theory, where individuals weigh the costs and the returns of education to decide on the optimal amount of education they...

In this study, we try to connect the economic literature on human capital formation with findings from neurobiology and psychology on early childhood development and self-regulation. Our basic framework for assessing the distribution of agespecific returns to investment in skills is an...

Educational opportunities determine the intergenerational mobility of human capital and are affected by institutional features of schooling systems. The aim of this paper is twofold. It intends to show how strongly student performance depends on student background at two important stages in a...

We estimate peer effects for fourth graders in six European countries. The identification relies on variation across classes within schools. We argue that classes within primary schools are formed roughly randomly with respect to family background. Similar to previous studies, we find sizeable...

Nirgends sonst im ökonomischen Handeln fallen Kosten und Nutzen im Zeitablauf und aufgeteilt nach Investoren und Nutznießern so eklatant auseinander wie bei Bildungsinvestitionen. In dem vorliegenden Beitrag wird argumentiert, dass in der sozialen Realität die Bildungsungleichheit im...

In this paper, we estimate the effect of pupil's relative age within the first grade of primary school on math and reading test scores at age 15. The main objective is to evaluate the long-term causal effect of relative age in the first grades of primary school on pupil's test in 16 different...