There is a general consensus that human capital is a major determinant of economic development. However, the range of available human capital variables is very wide in both a technical and a theoretical sense, so that different human capital measures are sometimes only loosely correlated. This...

In this paper, we revisit the relationship between educational and income inequalities in a historical perspective, using a newly developed annual dataset of average years of education in Europe. Theoretically one would expect a reduction in educational inequality should, given the positive...

In this paper, we revisit the question whether inequality in education and human capital is closely related to income inequality. Using the most popular functional forms describing the relationship between, first, output and human capital and, second, education and human capital, we find that...

The development in the working of markets has been an important topic in economic history for decades. The volatility of market prices is often used as an indicator of market efficiency in the broadest sense. Yet, the way in which volatility is estimated often makes it difficult to compare price...