The role of school principals largely resembles that of corporate managers and the leadership they provide are often viewed as a crucial component for educational success. We estimate the impact of individual principals on various schooling outcomes, by constructing a principal-school panel data...

In Sweden, children typically start compulsory school the year they turn 7. Individuals born around the new year have about the same date of birth but enter school at different ages. We exploit this source of exogenous variation to identify effects of age at school entry on educational...

This paper evaluates the long-term effects of class size in primary school. We use rich data from Sweden and exploit variation in class size created by a maximum class size rule. Smaller classes in the last three years of primary school (age 10 to 13) are beneficial for cognitive and...

This paper examines the long-run determinants of the evolution of top income shares. Using a newly assembled panel of 16 developed countries over the entire twentieth century, we find that financial development disproportionately boosts top incomes. This effect appears to be particularly strong...

Due to underlying technological and organizational differences, industries differ <p> in their need for external finance. Since services provided by the financial sector <p> are largely immobile across countries, the pattern of industrial specialization <p> should be influenced by the degree of financial...</p></p></p>

It has long been argued that trade restrictions can be motivated by insurance considerations in the absence of full risk diversification. Recent theoretical research suggests that markets for risk can alleviate resistance to reform and protectionist lobby group pressure. We empirically address...