-party funding plays an increasingly important role. However, the race for the coveted grants also has its downsides and can lead to …

A model is presented where universities competitively supply education to mobile students. Students are subject to a … liquidity constraint so that tuition must be paid out of pre-university income. It is shown that student loans provided by home … jurisdictions will ensure an efficient quality of higher education if loans do not contain any subsidy. If there is income …

We model a higher education system that admits students according to their admission signal (e.g., matriculation GPA … education loans increases neither human capital stock nor aggregate consumption, but only yields income redistribution mainly …

admit students that tend to struggle elsewhere. Most of the impact of alternative evaluation is found to be due to their … impact on the applicant pool (sorting), and not because of they are better at identifying successful students keeping the …

admit students that tend to struggle elsewhere. Most of the impact of alternative evaluation is found to be due to their … explained by their impact on sorting and not because they allow programs to select more successful students from a given pool of …