We analyze the role economic socialization plays in the economic behavior and asset accumulation of young adults by parents using data from European young adults and teenagers. We study the role of four distinct strands of economic socialization (providing pocket money, jobs at home, work for others, and parental encouragement) using a Dutch…

A major hypothesis of asset-building is that early access to savings accounts leads to continued and improved educational and economic outcomes over time. This study asks whether or not young adults (ages 18-22) in 2007, particularly among lower income households, are significantly more likely to own savings accounts and to accumulate more savings…

Investment in human capital is an important tool for reducing poverty. However, the poor may lack the capacity to aspire, which often results in underinvestment in their children's education. This paper studies the effect of a social program on the educational aspirations poor parents have for their children, and explores the role of exposure to…

Evidence from industrial nations suggests that sibling composition is associated with children's educational attainment, particularly if parents face resource constraints. If sibling composition is associated with educational attainment, then those associations should be stronger in poor societies of developing nations. We use data from a…

Low-income and minority children aspire to school success and expect to attend college. These aspirations and expectations matter--predicting college attendance and graduation when present and failure to attend college otherwise. But aspiring to college does not necessarily result in relevant behavior; many children with high aspirations do not…

Redistributive taxation and education subsidies are common policies intended to foster education attendance of poor children. However, this paper shows that in an intergenerational framework, these policies can raise social mobility only for some investment situations but not in general. I also study the impact of both policies on the aggregate…

We propose a simple theoretical model which shows how the combined effect of wage uncertainty and risk aversion can modify the individual willingness to pay for a HE system financed by an ICL or a ML. We calibrate our model using real data from the 1970 British Cohort Survey together with the features of the English HE financing system. We allow…

We estimate the chances of poor and non-poor children getting places in good schools, analysing the relationship between poverty, location and school assignment. Our dataset allows us to measure location and distance very precisely. The simple unconditional difference in probabilities of attending a good school is substantial. We run an analysis…

This study investigates the relationship between salaries and scholastic aptitude for full-time public high school humanities and mathematics/sciences teachers. For identification, we rely on variation in salaries between adjacent school districts within the same state. The results indicate that teacher aptitude is positively correlated with…

This study analyzes school dropout in rural Guatemala using event history data and unusually detailed data on schools and teachers. Significant results for language of instruction, teacher education and fighting between students demonstrate the importance of accounting for school context influences on an outcome that has, historically, been…

There is considerable disagreement in the academic literature about whether raising school expenditure improves educational outcomes. Yet changing the level of resources is one of the key policy levers open to governments. In England, school expenditure has increased by about 40% since 2000. Thus assessing whether such spending has had an impact…

Many educational systems have struggled with the question about how best to give out financial aid. In particular, if students do not know the amount of financial aid that they can receive before they make a decision about where to go to college and what major to study, it may distort their decision. This study utilizes an experiment (implemented…

This paper examines the relationship between contemporary racial inequality of schooling and the black-white wage gap in the U.S. In particular I ask: what policies would be effective at reducing the black-white wage gap in the U.S.? In order to address this question, I develop a model of human capital accumulation in which agents differ by race.…

In the U.S., white parents may choose to send their children to private schools in response to the local concentration of minority schoolchildren, commonly referred to as "white flight". This paper contributes to the existing literature by providing new evidence on white flight from the data set High School and Beyond (HSB). I find that a…

This paper estimates the impact of private education on the academic achievement of low-income students in Chile. To deal with selection bias, we use propensity score matching to compare the test scores of reduced-fee paying, low-income students in fee-charging private voucher schools to those of similar students in public schools and free private…