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Empirical studies show that years of schooling are positively correlated with good health. The implication may go from … education to health, from health to education, or from factors that influence both variables. We formalize a model that … determines an individual's demand for knowledge and health based on the causal effects, and study the impacts on the individual …
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In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country’s development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann...
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