Conditional cash transfers (CCTs) are a popular type of social welfare program that make payments to households conditional on human capital investments in children. Compared to unconditional cash transfers (UCTs), CCTs may exclude some low-income households as access is tied to normal...

This paper examines the returns to university education in Japan, using tuition, availability of universities, and labor market conditions as instrumental variables. To measure availability of universities, this paper uses total accredited capacity of all universities in the prefecture of...