This paper presents and estimates a unified model where both human capital investment and job search are endogenized. This unification enables us to quantify the relative contributions of each mechanism to life cycle earnings growth, while investigating potential interactions between human...

A non-trivial portion of traffic fatalities involve alcohol or illicit drugs. But does the use of alcohol and illegal substances - which is linked to depression, suicide, and criminal activity - also reduce academic performance? Recent studies suggest that drinking alcohol has a negative, if...

A postsecondary degree is often held up as the one sure path to financial success. But is that true regardless of institutional quality, discipline studied, or individual characteristics? Is a college degree always worth the cost? Students deciding whether to invest in college and what field to...

Despite the high growth of the Peruvian economy during the last decade, college graduates are facing increasing difficulties to find occupations that match their higher educational background, skills and educational investments. This scenario is embodied in the "professional underemployment"...

A productive workforce is a key objective of public economic policy. Recent empirical work suggests that increasing individual participation in sports and exercise can be a major force for achieving this goal. The productivity gains and related increase in earnings come on top of the already...

Formal schooling increases earnings and provides other individual benefits. However, societal benefits of education may exceed individual benefits. Research finds that increased average education levels in an area are correlated with higher earnings, even for locals with relatively little...

Workers participating in firm-sponsored training receive higher wages as a result. But given that firms pay the majority of costs for training, shouldn't they also benefit? Empirical evidence shows that this is in fact the case. Firm-sponsored training leads to higher productivity levels and...