A macroeconomic model with endogenous credit constraints due to a moral hazard problem in lending is developed. There are two sequential borrowing decisions; first, an agent may wish to borrow to become educated and secondly, an educated agent may wish to borrow to become an entrepreneur. The...

The use of hierarchical models of educational effectiveness are reviewed. The paper also draws attention to the inedequacy of official performance indicators currently available and in particular the anattention to ressource issues.

This paper develops a two-period overlapping generations model where agents choose whether to become educated when young. While education enhances productivity, it needs to be financed by borrowing. Because of the possibility of default, lenders may ration credit. We characterize the...

Graded educational qualifications are commonly treated using arbitrary points scores in modelling educational progress. This paper discusses some of the problems of such pratices from statistical and substantive viewpoint. Random effects models of ordered categorisations are suggested as a...

We explore cost-effectiveness of provision of General Certificate of Education at Advanced Level in a survey of nine colleges receiving central support from the Further Education Funding Council.

In this paper we examine educational data whch has a cross-classified structure. A cross-classified value-added multilevel model is proposed for these data and the problem of estimation are discussed in relation to the probllem of an endogenous regressor.

This paper first of all discusses some substantive and methodological issues concerned with disentangling the nature of effects in educational progress. We deal with criterion outcomes which are a limited set of ordered category grades for which multilevel generalised linear models are proposed.

The extent of non-retention on post compulsory full-time education courses mainly undertaken by students in the 16-19 age group has become recognised as relatively large. Not the least of the concerns surrounding this, is the extent of resources devoted to initial enrolments on courses who...