Decisions to invest in human capital depend on people's time preferences. We show that differences in patience are closely related to substantial subnational differences in educational achievement, leading to new perspectives on longstanding within-country disparities. We use social-media data -...

Contents -- CESifo Book Series Foreword -- Preface -- 1 Introduction -- 2 A Structure for Understanding Growth -- 3 Knowledge Capital and Growth -- 4 Causation -- 5 Developing Countries -- 6 Developed Countries -- 7 The Economic Value of Educational Reform -- 8 Policies to Improve Knowledge...

"Most analyses of teacher quality end without any assessment of the economic value of altered teacher quality. This paper combines information about teacher effectiveness with the economic impact of higher achievement. It begins with an overview of what is known about the relationship between...