Quantile regression, as introduced by Koenker and Bassett (1978), may be viewed as an extension of classical least squares estimation of conditional mean models to the estimation of an ensemble of models for several conditional quantile functions. The central special case is the median...

Most workers have one employment contract that is explicit and another one that is implicit. The explicit employment contract specifies working hours, compensation, and job tasks. The implicit contract involves expectations about the extent to which the employment relationship is likely to...

The author asks whether it is useful to view universities in a utility-maximizing framework and shows that university organizing virtually guarantees that the utility-maximizing model is the incorrect approach. He then discusses resource allocation issues at Cornell and reflects upon how...

This essay addressed the changing demographic composition of new Ph.D.s in economics and the changing distribution of the jobs that they are obtaining. It discusses how future trends may interact to influence the types of training that economists may provide their graduate students and the types...

This paper discussed what the academic labor market for economists is likely to look like in the years ahead. After tracing out trends in PhD production of new economists, including the increasing share of new PhDs who are foreign residents, it presents new evidence on the growing use of...

American higher education is in transition along many dimensions: tuition levels, faculty composition, expenditure allocation, pedagogy, technology, and more. During the last three decades, at private four-year academic institutions, undergraduate tuition levels increased each year on average by...