In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … enhancing the quality of education. The necessary expenditures are optimally financed by regressive tuition fees and the net …

The purpose of this paper is to study how education shapes the allocation of talent. To model the link between … education and the allocation of talent, we add two features to a Spence (1974) type of two-sector education model. First …, performance contracts give a worker incentives to choose the sector where (she believes she is) most productive. Second, education …

migration, occupational choice, and earnings where, upon completing their education, individuals choose a location in which to … estimates of the returns to business and STEM majors relative to education majors are biased upward by 15% on average. Using …

In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … enhancing the quality of education. The necessary expenditures are optimally financed by regressive tuition fees and the net …

bounds we assess the effects of the Job Corps (JC) training program on its participants' last complete employment spell … duration. Our estimated bounds suggest that JC participation may increase the average duration of the last complete employment … treatment assignment and experience a complete employment spell whether or not they enrolled in JC. The estimated quantile …

-cycle wage growth of U.S. white males into four main sources: education, hours worked, cognitive skills (AFQT scores) and … individual differences in hours worked and education explain the remaining part almost equally. We show how our model is a … education. Finally, because policy changes induce simultaneous movements in observed choices and average per-year effects …

-cycle wage growth of U.S. white males into four main sources: education, hours worked, cognitive skills (Armed Forces … by heterogeneity while individual differences in hours worked and education explain the remaining part almost equally. We … reduction in the cost of higher education. Finally, because policy changes induce simultaneous movements in observed choices and …

workers in employment. In my model, knowledge (in a broad sense) is an input into the production function of human capital … intensity; their wages fall, which reduces inequality between them and the least skilled. Those who win can spread their ability … over a larger market and because of that enjoy a larger increase in wages than the least skilled, which tends to increase …