In this paper, we develop a simple dynamic general equilibrium framework that can be used to study issues in higher education policy. The model features heterogeneity in income of parents and academic ability of students. Liquidity constraints create persistence in educational attainment even...

This paper examines perceptions of the criminal justice system held by young males using longitudinal survey data from the recent National Longitudinal Survey of Youth 1997 Cohort and the National Youth Survey. First, a model is developed to study how perceptions respond to individual...