This paper considers a three-overlapping-generations model of endogeneous growth wherein human capital is the engine of growth. It first contrasts the ‘laissez-faire’ and the optimal solutions. Three possible accumulation regimes are distinguished. Then it discusses a standard set of...

School choice and accountability have become popular educational policies in the US and the UK. In Europe, such policies are less often applied and therefore less subject to research. The present paper uses recent international data to study the impact of schools comparing their pupil’s...

We bridge the gap between the standard theory of growth and the mostly static theory of corruption. Some public investment can be diverted from its purpose by corrupt individuals. Voters determine the level of public investment subject to an incentive constraint equalizing the returns from...

Empirical testing of asymmetric information in the insurance market has uncovered a negative correlation between risks levels and insurance purchases, rather than the positive correlation predicted by the standard insurance theory. Hemenway (1990) proposes an explanation for this negative...

The aim of this paper is to ponder upon Marshall’s conception of equilibrium and to confront it withWalras’s. In a first section, I present a rational reconstruction of the Marshallian conception. In contrast to its standard tripartite classification interpretation, I claim that this...

An objective ranking of economics departments worldwide in terms of graduate education is derived. The central idea is that the value of a department is the sum of the values of its PhD graduates, as reflected in the values of their current employing departments. The scores are thus derived as...

The aim of this paper is to provide some further elements of analysis concerning the returns to education in Italy in a comparative perspective. The three key contributions of the analysis are : estimation of the Mincerian coefficients of the wage equations for men and women for Itay and,...

Should access to higher education remain ‘free’ ? Theoretical answers to this question are at least twofold. First, public higher education is said to be regressive as a priviliged minority profits from extra human capital, and all the private benefits it generates, while the general public...

We examine the dynamics that may compensate the cost of redistribution policy in the European Union (EU), which is one of the obstacles for a candidate member country, namely Turkey to be admitted. We adress two main issues : i) may a total factor productivity (TFP) increases in the candidate...

We study information revelation in markets with pairwise meetings. We focus on the one sided case and perform a dynamic analysis of a constant entry flow model. The same question has been studied in an identical framework in Serrano and Yosha (1993) but they limit their analysis to the...