An overlapping generational model of educational investment in a dual labor markets is presented in which education serves both as a screening device and as investment in human capital. Labor market dualism arises not only via the conventional technology (productivity) differential between a...

Chonsei is a unique Korean lease contract in which the tenant pays an up-front deposit, typically about 40 to 80% of the value of the property, with no requirement for periodic rent payments. At the contract maturation, the landlord then returns the nominal value of the deposit. Since there is...