This report compares the performance of 15-year-olds in the United States in PISA against the global patterns and trends. But it goes beyond the aggregate level analysis that have so far been published in the PISA 2012 reports, to give analysis of student performance on individual mathematics...

In this paper, we ask whether a small structural model with sticky prices and wages, embedding various modeling devices designed to increase the degree of strategic complementarity between price-setters, can fit postwar US data. To answer this question, we resort to a two-step empirical...