In this paper we analyze the effect of removing village-level primary schools and effectively merging these into larger township-level schools on educational attainment in rural areas of the People's Republic of China (PRC). We employ individual- and village-level information from the China...

Public expenditure plays a vital role in the growth and development of a nation, and public expenditure on education considered as a most contingent factor of growth in the economy. This paper aims to know the relationship between public expenditure on education and Gross State Domestic Product...

Externalities caused by human capital accumulation have taken up considerable space in theoretical work on economic growth. However, less attention has been paid to this externality in traditional growth accounting exercises. This paper takes up the issue of growth accounting, suggesting a...

The key hypothesis of this paper is that time use data bases make possible a broader view of the benefits and costs of human capital than is otherwise possible. This achievement is enabled by a set of integrated information on not only educational attainment but also on time devoted to formal...

We study the dynamics of the quantity and quality of teachers in the framework of dynamic general equilibrium OLG model. The quantity and quality are jointly set by a government agency wishing to maximize the quality of basic education per student while being bound by teachers’ collective...

College education is not only an investment; for many people it also generates consumption benefits. If these benefits are normal goods, then the rich attend college at higher rates than the poor. Furthermore, the marginal poor student is smarter than the marginal rich student. Colleges aiming...

We study the dynamics of the quantity and quality of teachers in the framework of dynamic general equilibrium OLG model. The quantity and quality are jointly set by a government agency wishing to maximize the quality of basic education per student while being bound by teachers' collective...

We provide an explanation for why both college tuition and government grants to college students are typically means-tested. The critical idea is that attending college is both an investment good and a consumption good. The consumption benefit from education implies that, when tuition and grants...

The paper addresses the two-fold rise in teacher-student ratio in the American K-12 school system in the post-World War II period accompanied by the evidence of a decline in the relative quality of teachers. We develop a dynamic general equilibrium framework for analyzing the teacher...

We construct a novel dataset of human capital accumulation in China and India from 1900 to 2020 by combining historical records and educational reports to analyze the role of education in economic divergence. Three key findings emerge. First, China pursued a bottom-up strategy, first expanding...