This paper examines the differences between the subsequent careers of high school and college graduate workers based on a direct role of college graduation with regard to the revelation of workers' individual abilities. Using NLSY79, we document a positive relationship between off-the-job...

In this paper, we evaluate the impact of high-speed train introduction on passenger transport. In particular, we examine whether the introduction of the high-speed train could increase the demand for train travel and substitute the demand for air travel. To address the question, we exploit the...

This paper examines the impact of introducing high-speed trains on consumer welfare using South Korean transportation industry data. The model treats the rail company's choice of train schedules as endogenous in order to take the firm's choices of product line into account. I estimate a model of...

This paper examines the impact of introducing high-speed trains on consumer welfare, taking the ensuing changes in train schedules into account. Based on the estimated demand model for travel which incorporates consumer's heterogeneous preferences for travel schedules into the standard...

Ten cities in Korea have recently changed their high school system from "sorting" to "mixing" where students are assigned regardless of their academic abilities. We report that the number of high school graduates entering top universities has significantly decreased after the change.