The prevalence of widespread poverty and the increasing inequality in income distribution across nations point to the failure of the trickle-down theory. The long-held faith in the growth of income as the sole policy instrument to achieve the national objective of growth with equity has been put to the test. The increasing numbers of the poor,…

We investigate relationships between several financial aid policies and student enrollment behavior. Chapters 1 and 2 (co-authored with Robert Rosenman) use proprietary data from a public research university to address institution level policies affecting enrollment. Chapter 3 (co-authored with Benjamin Cowan) utilizes government data address a…

Human capital theory and rate of return methodology have long been a dominant framework in comparative and international education and other fields. While there have been criticisms since its inception, it has been ubiquitous and widely accepted as an important mechanism for educational planning, evaluation, and policy making. In this article, I…

The impact of charter schools on early-life labor market outcomes using administrative data from Texas is estimated. It was found that, at the mean, charter schools have no impact on test scores and a negative impact on earnings. No Excuses charter schools increase test scores and four-year college enrollment, but have a small and statistically…

Purpose: The purpose of this paper is to investigate how the quality of teachers based on education and training provided under new reform policies in Malaysia affects their earnings outcomes. The study conducted a benefit and returns analysis guided by human capital theory. Design/methodology/approach: The study used survey research methods to…

Young people who are not in education, employment or training (NEET) are construed by policy-makers as a pressing problem about which something should be done. Such young people's lack of employment is thought to pose difficulties for wider society in relation to social cohesion and inclusion, and it is feared that they will become a "lost…

This report explains some of the ways the payoff of postsecondary education can be measured and provides insights into why there is confusion about that payoff, despite strong evidence. Focusing on the variation in outcomes across individuals helps to clarify that the existence of the high average payoff, and the reality of significant benefits…

Since 1999, the expansion of higher education has been viewed as an important step in accumulating human capital for China that was to gradually open its domestic sectors to the global market at a turbulent time at the turn of the century. Recent studies suggest that the improvement of human capital has succeeded in preparing China with a solid…

Improving college degree attainment is essential as the United States seeks to remain economically competitive in a globalized marketplace. As the economy continues to evolve and become increasingly more complex, it is critical that our education system provides our youth with the skills, ingenuity, and critical thinking abilities that can…

This paper challenges Hanushek and Woessmann's (2008) contention that the quality and not the quantity of schooling determines a nation's rate of economic growth. I first show that their statistical analysis is flawed. I then show that when a nation's average test scores and average schooling attainment are included in a national income model,…

In this paper we analyze the role played by self-confidence, modeled as beliefs about one's ability, in shaping task choices. We propose a model in which fully rational agents exploit all the available information to update their beliefs using Bayes' rule, eventually learning their true type. We show that when the learning process does not…

This paper uses administrative data on schooling and earnings from Texas to estimate the effect of college quality on the distribution of earnings. We proxy college quality using the college sector from which students graduate and focus on identifying how graduating from UT-Austin, Texas A\&M or a community college affects the distribution of…

This series addresses the relation of education to knowledge-based growth and broader measures of development beyond growth, central features of the modern world in which education has a central role. This role includes the effects of education on pure economic growth including its effects on the creation, adaptation, and dissemination of new…

The human capital concept of neoclassical economics holds that increased education will lead to increased productivity and to higher wages. Job queue and labor market segmentation theories argue that improved education merely drives up employment criteria and that the socioeconomic background of the employee is a more significant indicator of…

The signing of the Higher Education Act (HEA) in 1965 by President Lyndon Johnson marked the beginning of the federal government's explicit commitment to equalizing college opportunities for needy students. Since then, however, two trends have developed which are running at cross purposes to each other. The first is the emergence, shortly after…