Teachers differ greatly in how much they teach their students, but little is known about which teacher attributes account for this. We estimate the causal effect of teacher subject knowledge on student achievement using within-teacher within-student variation, exploiting a unique Peruvian...

Both theory and empirical evidence suggest that there is a lifecycle of educational finance in which the returns to educational investments tend to decrease with age. Returns tend to be highest for disadvantaged children in the early stages and for those who have already acquired high-quality...

This study examines the impact of product market competition and corporate governance on productivity growth in German manufacturing. Using a panel of almost 500 firms over the years 1986 to 1994, we find that firms experience higher productivity growth when operating in markets with intense...

The main purpose of this introductory chapter is to be briefly review the ongoing debate in the field of sustainability and economic growth. First we provide an introduction to current empirical research. Results of empirical analyses as well as methodological problems concerning the analysis of...

We modify the principal-agent model with moral hazard by assuming that the agent is expectation-based loss averse according to K o szegi and Rabin (2006, 2007). The optimal contract is a binary payment scheme even for a rich performance measure, where standard preferences predict a fully...

We set up a general equilibrium model with heterogeneous firms to study the interaction between wage bargaining and foreign direct investment. Thereby, we highlight the incentives of firms to invest abroad in order to improve their bargaining position vis-á-vis local unions and we show how...