A controversial new financing phenomenon has recently emerged. New “income share agreements” (“ISAs”) enable an individual to raise funds by pledging a percentage of her future earnings to investors for a certain number of years. These contracts, which have been offered by entities such...

The main objective of this paper was to visualize the relation between government spending on basic education and the human capital accumulation process, observing the impacts of this spending on individual investments in higher education, and on economic growth. From the results obtained, we...

This paper presents a Dynamic Computable General Equilibrium Model that analyses impacts of public spending in education on student's behaviours and labour market. The South African education system faces with strong inequalities inherited from the Apartheid regime. We find that this policy...

This paper analyzes the political economy of the reform process theoretically and empirically. Building on the framework developed by Rodrik [1995], a two-sector model of a transition economy is constructed. This model is then used to study the dynamics of political support for the reforms. The...

The education and application of skills in it is an essential prerequisite for the growth and development of each national economy in the future. Investing in education and skills development are essential incentive for raising the growth and competitiveness of each country and its participation...

We develop a mathematical proof demonstrating that only financially-strong firms will sell put options on their own stock, but financially-weak firms will not. The sale of options on a company's own stock exposes the buyer to default risk of the issuer, which additionally complicates the payoff...

Key economic concepts of saving and investment are defined and discussed in this paper. It is shown that the equation “saving=investment” is a fundamental fallacy of macroeconomics due to a confusion between real and financial variables, and also between stock and flow variables. Economic...

This paper attempts to assess outcomes of school system decentralization in Poland. National examination results are analyzed using the value-added model of teaching quality. Variation in decentralized spending is related to estimates of achievement growth. Exploring exam results for three...

We address the challenge of designing performance-based incentive schemes for schoolteachers. When teachers specialize in different subjects in a society with social prejudice, performance-based pay that depends on the average of student performance can cause teachers to coordinate their effort...

Student loan servicers play a critical and underappreciated role in federal student oan programs. The federal government contracts out to servicers an array of many of the most critical functions related to student loan repayment, including account management, payment processing, and the...