What explains the large cross-country variation in the wage premium for higher education? Economic analyses of wage differentials by education point to technological change and globalisation, but we know little about the impact of different types of public policies. We argue that public...

The paper studies the power of educational investments in relation to transfers for fostering lifetime income and for reducing income inequality in Germany. The welfare analysis is based on a model of age-dependent human capital accumulation, featuring dynamic complementarities in skill...

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...