Most labor economics textbooks pay little attention to actual labor markets, taking as
reference a perfectly competitive market in which losing a job is not a big deal. The …

This paper presents a theoretical and empirical analysis of the role of life expectancy for
optimal schooling and lifetime labor supply. The results of a simple prototype Ben‐Porath …

This research develops an expanded unified growth theory that incorporates the
endogenous accumulation of physical capital, population, human capital, and technology …

We study the effects of early childhood skill formation on productivity and schooling. We add
early childhood human capital to a standard continuous time life cycle economy and assume …

The US experienced two dramatic changes in the structure of education in a 50 year period.
The first was a large expansion of educational attainment; the second, an increase in test …

Most economists measure labor productivity based on activities conducted at places of work
and do not consider leisure time in their calculations. In contrast, psychologists and …

At least in principle, this conservative approach makes corruption easier to detect and
measure, apart from the fiaws of legal politics and policy making. However, a perfect …

The paper addresses the two-fold rise in teacher–student ratio in the American K-12 school
system in the post-World War II period accompanied by the evidence of a decline in the …

This paper offers possible explanations for three generally observed facts about fiscal policy
and development:(F1) the relative size of government increases as an economy …

This paper presents a quantitative theory of development that highlights three mechanisms
that relate schooling, fertility, and growth. First, we point out that in the early stages of …