The pattern of economic rates of return to investments in education can help us to understand the benefits of schooling. It was common knowledge that the returns to education were highest for the primary level of education and lower for subsequent levels. Recent evidence suggests that the...

Automation will be a boon or a catastrophe depending on whom you listen to. This paper proposes an overlapping-generations model with endogenous school choice in which the quality of a country's education system determines how well skill supply can respond to increased demand from automation and...