Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the … of education reduces the private return by 2 percentage points, consistent with Katz-Murphy's (1992) elasticity of …

-linear relationship between these two measures of inequality, actual data indicate that average years of education have a stronger … capita income and positively related to capital/output ratio and government expenditure in education …

We develop a classical macroeconomic model to examine the growth and distributional consequences of education. Contrary …-reducing. Expansive education policies may foster growth and reduce earning inequalities between workers, but only by transferring income … from workers to capitalists. Further, the overall effect of an increase in education depends on the actual characteristics …

nearly two decades, for samples split by education, and age - to our knowledge for the first time. The highly educated went …