Students in majors with higher average quantitative graduate records exam (GRE) scores are less likely to attend graduate school whereas students in majors with higher average verbal GRE scores are more likely to attend graduate school. This sorting effect means that students whose cognitive...

Since 1980, income inequality has risen faster in Taiwan than in the United States. Inequality rose despite a rapid increase in the share of educated workers in the labour market that might have been expected to depress returns to education. Returns to a college education rose in Taiwan for all...

We propose a strategy to identify the complementarity or substitutability among technology bundles. Differences between the observed distribution of technology choices can be subjected to statistical tests. Combinations of technologies that occur with greater frequency than would occur under...

<Para ID="Par1">Sri Lanka’s Termination of Employment of Workmen Act (TEWA) requires that firms with 15 or more workers justify layoffs and provide generous severance pay to displaced workers, with smaller firms being exempted. Although formally subject to TEWA, firms in Export Promotion Zones (EPZs) do not...</para>

This paper develops an empirical strategy for testi ng competing hypotheses of expectation regimes when direct measures of expectati ons are unavailable. The procedure takes as given an assumed structural relation ship between expected values of exogeneous variables and a given decision variab...

According to T.W. Schultz, the returns to human capital are highest in economic environments experiencing unexpected price, productivity, and technology shocks that create "disequilibria." In such environments, the ability of firms and individuals to adapt their resource allocations to shocks...