While uncertainty abounds in almost any decision on investment in schooling, it is mostly ignored in research and virtually absent in labour economics text books. This paper documents the scope for risk, discusses the tough disentanglement of heterogeneity and risk, surveys the analytical...

The research paper presents a holistic framework of the outcomes of entrepreneurship education (EE) at educational and socio-economic levels. Employing the general scientific research methods, monograph and logical construction, the author investigates the fundamental origins of the European...

In 2009, the National Endowment for Financial Education initiated a project to study the "Implications of a Quarter Century Research in Personal Finance." As part of that effort, one of the major themes chosen was to study the measurement and evaluation of participant outcomes. This paper is...

Students´ test scores at ages 9 to 15 are a measure of their skills as workers five to 55 years later. Using historic data on test scores and school attendance, I calculate the share of workers in 2005 that could have scored above 400 and above 600 in 45 countries. I find that the share above...

This paper presents evidence that students´ test scores at ages 9 to 15 are not a good proxy for a nation´s stock of human capital. Across countries test scores rise with increases in human capital up to $40,000/adult (2000$), but then decline as human capital increases up to $125,000/adult....

The marginal product of human capital in Mankiw, Romer, and Weil´s [1992] augmented Solow model measures the direct and two external effects of human capital created from schooling on national income. If this model is valid, its estimates of the share of this marginal product accruing to...

This article presents revised estimates of the external rates of return on investment in schooling provided in Schooling and National Income: How Large Are the Externalities?" The analysis is based on data for the same set of countries, but it incorporates methodological improvements that yield...

The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of the workers who receive the schooling and the external effects on workers´ earnings and on physical capital due to schooling´s spillover effect on the productivity of these...

En este trabajo se utilizan los resultados obtenidos por los estudiantes en las áreas de matemáticas y lenguaje de las pruebas ICFES Saber 11º del segundo semestre de 2009, como medio para identificar los determinantes del rendimiento académico en Colombia. Para ello, se utiliza el modelo...

Bucaramanga, the capital of the department of Santander, is not only a city with some of the best social indicators in Colombia, but also one whose economy has been growing faster than the other main Colombian cities. This document analyzes the importance of human capital, and how it´s related...