We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....

Schools face important policy tradeoffs in monitoring and managing student behavior. Strict discipline policies may stigmatize suspended students and expose them to the criminal justice system at a young age. On the other hand, strict discipline acts as a deterrent and limits harmful spillovers...

This chapter summarizes existing evidence on the link between education and innovation and presents open questions for future research. After a brief review of theoretical frameworks on the link between education, innovation, and economic growth, we explore three alternative policies to...

Value-added models (VAMs) are increasingly used to measure school effectiveness. Yet random variation in school attendance is necessary to test the validity of VAMs, and to guide the selection of models for measuring causal effects of schools. In this paper, I use random assignment from a public...

We study the impact of the end of race-based busing in Charlotte-Mecklenburg schools ("CMS") on academic achievement, educational attainment, and young adult crime. In 2001, CMS was prohibited from using race in assigning students to schools. School boundaries were redrawn dramatically to...

This paper synthesizes what economists have learned about human capital since Becker (1962) into four stylized facts. First, human capital explains at least one-third of the variation in labor earnings within countries and at least half of the variation across countries. Second, human capital...

The Federal government has spent billions of dollars to support turnarounds of low-achieving schools, yet most evidence on the impact of such turnarounds comes from high-profile, exceptional settings and not from examples driven by state policy decisions at scale. In this paper, we study the...

We study employers' perceptions of the value of postsecondary degrees using a field experiment. We randomly assign the sector and selectivity of institutions to fictitious resumes and apply to real vacancy postings for business and health jobs on a large online job board. We find that a business...

Wealth is highly correlated between parents and their children; however, little is known about the extent to which these relationships are genetic or determined by environmental factors. We use administrative data on the net wealth of a large sample of Swedish adoptees merged with similar...

We study the effect of birth weight on long-run outcomes, including permanent income, income across various stages of the lifecycle, education, social benefits take-up, and adult mortality. For this purpose, we have linked a unique dataset on nearly all Swedish twins born between 1926- 1958,...