This paper calculates new measures of human capital. Contrary to the existing literature, they are based on realistic rates of return to education, which are allowed to vary substantially across countries and to some extent over time. The new measures perform well in regression analysis...

This paper uses a new measure of human capital that works much better in explaining productivity in OECD countries compared to earlier measures of human capital to investigate the educational policy drivers of human capital. A novel methodology is utilised by interacting educational policies,...

This paper reviews recent empirical literature on policy drivers of two educational outcomes - years of schooling and rates of return - that form the OECD’s aggregate measure of human capital. The paper sets the literature findings into the context of current educational polices in place in...

In Slovakia, educational outcomes are below the OECD average and are too dependent on the socioeconomic background of students. Unemployment is high and the school-to-job transition process does not work well. Spending on education and active labour market policies are very low by international...