Remarks at the Whitman School of Management at Syracuse University, Syracuse, New York.

Schools play a crucial role in human capital development, and were one of the many elements of government adversely affected by the Great Recession. Using a rich panel data set of New York State school districts and a trend-shift analysis, we examine how the funding and expenditure dynamics of...

In this paper, we investigate the role of college selectivity in mobility decisions (both in-state and out-of-state) of freshmen students following Georgia’s HOPE scholarship program. How did HOPE affect the selectivity of colleges attended by Georgia’s freshmen students? Did it induce...

We develop a theory of labor quality based on (i) the division of the labor force between unskilled and skilled workers and (ii) investments in skilled workers. In our theory, countries differ in two key dimensions: talent and total factor productivity (TFP). We measure talent using the observed...

This study quantifies one important part of the economic return to public investment in college education, namely, the fiscal benefits associated with greater college attainment. College graduates generally pay much more in taxes than those not going to college. Government expenditures are also...

The U.S. housing market's troubles have spread to financial markets, and news reports have focused on broad indicators of Wall Street's distress, such as stock market indexes and interbank lending rates. However, the pinch on Main Street has been impacting low-wage workers for more than two years.

This article analyzes the impact of compulsory schooling laws early in the twentieth century on long-term health. The author finds no compelling evidence for a causal link between education and health using this research design. Further, the results suggest that only a small fraction of health...

The consumer-finance market for middle and upper-income households in the United States is characterized by a wide range of choices, both in terms of financial-services providers and the specific products and services available.1 Prices generally are determined in competitive markets....

Young Americans have to compete for jobs not only with other Americans but also with qualified job-seekers worldwide. Are they ready for the challenge? This Letter sheds new light on the question by analyzing data from the International Adult Literacy Survey (IALS).