This paper introduces the term structure of interest rates into a medium-scale DSGE model. This extension results in a multi-period forecasting model that is estimated under both adaptive learning and rational expectations. Term structure information enables us to characterize agents'...

Many international comparisons of education over the past 50 years have included some measure of students’ opportunity to learn (OTL) in their schooling. Results have typically confirmed the common sense notion that a student’s exposure in school to the assessed concepts, operationalized in...

Using a stochastic frontier approach this paper evaluates the effects of substantial changes in the teaching material on students learning efficiency. The results indicate that the main effects of the re-organization on the learning efficiency was a decreasing importance of students' attendance...

Using a stochastic frontier approach this paper evaluates the effects of substantial changes in the teaching material on students' learning efficiency. The results indicate that the main effects of the re-organization on the learning efficiency was a decreasing importance of students' attendance...