Are public policies effective in enhancing gender balance in science, technology, engineering, and mathematics (STEM) graduate education? Although the literature is rich in studies that prescribe micro-level interventions to promote gender balance in specific STEM areas or institutions, there are surprisingly few studies that quantitatively…

This paper develops a new measure of human capital, calculated as a cohort-weighted average of the quality of education (PISA scores) and the quantity of education (mean years of schooling). Contrary to the existing studies, the relative weights of quality and quantity are estimated (and not calibrated). The quality of education is estimated to be…