Dragomirescu-Gaina, Catalin - In: IZA journal of European Labor Studies 4 (2015) 25, pp. 1-24
This paper makes two important contributions. Firstly, it uncovers some of the main economic determinants driving the dynamics of public education spending in Europe. Drawing mainly on the insights provided by Baumol's cost theory, the baseline specification uses unit labour costs and real GDP...