This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor supply, and consumption/saving...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor supply, and consumption/saving...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor supply, and consumption/saving...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor supply, and consumption/saving...

Moment conditions are derived for dynamic linear panel data models with linear individual specific effects in the mean and multiplicative individual effects in the conditional ARCH type variance function. The relation and correlation between the linear and multiplicative effects are...

The impact of compulsory schooling laws as well as the abolition of early selection by ability reamin important issues in the educational debate. These issues were the focus of a major education reform in Sweden which was implemented in the 60s. The reform was preceded by a "social experiment"...

In this paper we develop the collective labour supply framework to allow for corner solutions and nonparticipation in employment.We derive conditions for the complete non parametric identification of individual preferences.We extend our results to allow for unobserved heterogeneity and show...

This paper uses microeconomic data from the UK Family Expenditure Surveys (FES) and the General Household Surveys (GHS) to describe and explain changes in the distribution of male wages. Since the late 1970s wage inequality has risen very fast in the UK, and this rise is characterised both by...

We study the socio-economic gradient of child development on a representative sample of low- and middle-income children aged 6-42 months in Bogota, using the Bayley Scales of Infant Development, a high quality test based on direct observation of the child’s abilities. We find a statistically...