Conventional wisdom suggests that the stocks of human capital were one of the few positive legacies from communism. However, if factories under communism were so inefficient, why would the education system not have been? Using the education production function approach and new data on...

The belief that both the behavior and outcomes of students are affected by their peers is important in shaping education policy. I analyze two polar education systems -tracking and mixing- and propose several criteria for their comparison. I find that tracking is the system that maximizes...

This paper measures human capital development in the Japanese workforce after WWII. An increase in workers years of schooling is believed to have aided Japans economic growth after WWII. The development of human capital has acquired increasing importance for Japans future economic growth given...