Expected earnings and expected returns to education are seen by labour economists as a major determinant of educational attainment. In spite of this, the empirical knowledge about expectations and their formation is scarce. In this Paper we report the results of the first systematic study of the...

We use data from a nationally representative survey of Italian graduates to study whether Alma Mater matters for employment and earnings 3 years after graduation. We find that the attended college matters, and that there are important college-related differences, both among and within regions of...