This paper studies the long-term consequences on firms and workers of the credit crunch triggered by the 2007-2008 global financial crisis. Relying on a unique matched bank-employer-employee administrative dataset, we construct a firm-specific credit supply shock and examine firms’ and...

In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country’s development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann...

The emergence of online labor markets calls the validity of traditional career models into question. Given the volatility and digital nature of this environment, short-term employment relationships and heterogeneity of workers, employers and tasks in these markets, it is unclear how careers...

We study the long-run implications of regional and ethnic favoritism in Africa. Combining geocoded individual-level survey data from the Demographic and Health Survey (DHS) with data on national leaders’ birthplaces across 41 African countries, we explore the educational attainment of adults...

Against a background of increasing violence against non-natives, we estimate the effect of hate crime on refugees’ mental health in Germany. For this purpose, we combine two datasets: administrative records on xenophobic crime against refugee shelters by the Federal Criminal Office and the...

The shock on human capital caused by COVID-19 is likely to have long lasting consequences, especially for children of low-educated families. Applying a counterfactual exercise we project the effects of school closures and other lockdown policies on the intergenerational persistence of education...