We investigate the role of direct public support for education in explaining the post-WWII evolution of college attainment in the U.S. College attainment has surged from the end of WWII until the early 1970s, then declined for about a decade and has been slowly recovering towards the level of...

This paper studies the application of the simulated method of moments (SMM) for the estimation of nonlinear dynamic stochastic general equilibrium (DSGE) models. Monte Carlo analysis is employed to examine the small-sample properties of SMM in specifications with different curvature. Results...