This paper examines several US monthly financial time series data using fractional integration and cointegration techniques. The univariate analysis based on fractional integration aims to determine whether the series are I(1) (in which case markets might be efficient) or alternatively I(d) with...

This volume was prepared by Benedikt Siegler while working at the Center for the Economics of Education of the Ifo Institute. It was completed in June 2014 and accepted as a doctoral thesis by the Department of Economics at the University of Munich (LMU) in November 2014. The thesis includes...

This paper examines several US monthly financial time series data using fractional integration and cointegration techniques. The univariate analysis based on fractional integration aims to determine whether the series are I(1) (in which case markets might be efficient) or alternatively I(d) with...

I take advantage of a sharp discontinuity in the probability of admission to an elite university at the admission score threshold, to estimate causal returns to college education quality. I use a newly constructed dataset, which combines individual administrative records about high school,...

I take advantage of a sharp discontinuity in the probability of admission to an elite university at the admission score threshold, to estimate causal returns to college education quality. I use a newly constructed dataset, which combines individual administrative records about high school,...

Inequalities do not end once students enter higher education. Yet, the majority of papers on the effectiveness of education aid examine its impact on college enrollment. In this paper, we provide evidence on the causal impact of means-tested financial aid on the outcomes of students who have...

To estimate causal effects of college choice, we exploit eligibility rules for student loans in a regression discontinuity design. Loan programs induce students to pursue college degrees that are more expensive and prolonged relative to technical education. Although higher education is...

Recent federal investigations and new regulations have resulted in restrictions on for-profit institutions’ access to federal student aid. We examine the enrollment effects of similar restrictions imposed on over 1,200 for-profit colleges in the 1990s. Using variation in regulations linked to...

Evaluations of the Higher Education Sector are receiving increased attention, due to the rising expenditures and the absence of efficiency enhancing market pressure. To what extent universities are able to eliminate inefficiency is a question that has only partially been answered. This paper...

This paper investigates the impact of changes in the funding of higher education in England on students' choices and outcomes. Over the last two decades – through three major reforms in 1998, 2006 and 2012 – undergraduate university education in public universities moved from being free to...