This paper investigates the wage returns to schooling and actual early work experiences
and how these returns have changed over the past 20 years. Using the NLSY surveys, we …

We use the US National Longitudinal Survey of Youth 1979 and other sources to examine
how cognitive performance near the end of secondary schooling relates to labour market …

This paper develops a dynamic model of schooling and occupational choices that
incorporates personality traits, as measured by the “big five” traits. The model is estimated …

Earning a four-year college degree remains a worthwhile investment for the average
student. Data from US workers show that the benefits of college in terms of higher earnings …

We study the optimal design of student financial aid as a function of parental income. We
derive optimal financial aid formulas in a general model. We estimate a model of selection …

Low-skilled prime-age men are less likely to be employed than high-skilled prime-age men,
and the differential has increased since the 1970s. I build a search model encompassing …

With the rapid development of Large Language Models (LLMs), Retrieval-Augmented
Generation (RAG) has become a predominant method in the field of professional knowledge …

The US is undergoing a long-term decline in entrepreneurship. We show that this slow-down
in entrepreneurship has been more pronounced for skilled individuals–those with a college …

This paper explores students' expectations about the returns to completing higher education
and provides first evidence on perceived signaling and human capital effects. We elicit …

We study the optimal design of student financial aid as a function of parental income. We
characterize the sufficient statistics of the policy problem in a general model. For a simple …