In this paper, we provide evidence that the rate of return to schooling varies across individuals and this variation is responsible for much of the variation in the length of schooling.

It may be in the interest of low-ability individuals to subsidize the education of high-ability individuals. Sufficient conditions are surprisingly mild: positive externalities in education and complementarity in production between human capital and labor supplied by the low-ability individuals....

This thesis analyzes optimal wage taxation and the effects of wage taxation on investment in risky education, first in a closed economy and then in a federation with alternative tax constitutions. In the first period, students divide their time between education, leisure and work as uneducated...

Education as a way of increasing human capital is considered to be a basic factor of the growth process of the aggregate economy. The returns to investment into human capital are thus an important issue to analyze. In his PH.D thesis Mr Roope Uusitalo studies the effects of education on earnings...