Changes in educational participation rates across cohorts are likely to imply changes in the ability-education relationship and thereby to impact on estimated returns to education. We show that skewness in the underlying ability distribution is a key determinant of the impact of graduate...

An increase over time in the proportion of young people obtaining a degree is likely to impact on the relative ability compositions (i) of graduates and non-graduates and (ii) across graduates with different classes of degree award. In a signalling framework, we examine the implications of this...

We exploit individual-level administrative data for whole populations of UK university students for the leaving cohorts of 1985-1993 (together with that of 1998) to investigate the influence of degree performance on graduate occupational earnings. We find that there is a significant premium...

This paper investigates the size and power of a number of unit root tests, currently in use in both applied macro and financial economics, when the data generating process is fractionally integrated. The long persistence characteristic of fractionally integrated processes lowers the power of...