We study the evolution of an educational system founded on a hierarchical di®erentiation between vocational and general education, with vocational playing an inferior role in the society. The dynamics are best summarized by the ratio of the fraction of the population in vocational to that in general education, which we interpret as a measure of the degree of strati ̄cation of the society. We sho...

An optimal decision model is developed to explore the impact of the structure of knowledge on specialization and cooperation in research. It shows that, (1) the degree of specialization in knowledge increases with the depth of knowledge and cooperation efficiency, and decreases with the average number of disciplines that are required for the solution of the problem; (2) the problem which requir...

In this era of globalization, human capital as is a determining factor in ensuring social and cultural progress. Human able to develop itself contribute understanding the problems that exist science high technology, social, modern economy. creating quality education, it determined by role capital, namely teacher holder world education who has ability intellectual transfer knowledge. The will de...

This paper studies how students’ financial literacy affects their perceptions of returns to schooling and consequently decisions. We first propose a model human capital accumulation where financially illiterate students exhibit cognitive bias “ironing heuristic.” With this decision heuristic, tend linearize the relationship between educational investments future earnings, resulting in underesti...

A felsőoktatas es a munkaerőpiac illeszkedese fontos kovetelmeny felsőoktatasi intezmenyekkel szemben. Ennek meresere szamos megkozelites letezik, jelen tanulmany frissdiplomasok objektiv szubjektiv karriersikeressegenek befolyasolo tenyezőit helyezi kozeppontba. Az empirikus kutatas 2011 2014 kozotti Frissdiplomas-adatbazis alapjan 4515, gazdasagtudomanyi teruleten frissen vegzett hallgato val...

Why Are the Returns to Education Higher for Entrepreneurs than for Employees? We compare the returns to education (RTE) for entrepreneurs and employees, based on 19 waves of the NLSY database. By using instrumental variable techniques (IV) and taking account of selectivity, we find that the RTE are significantly higher for entrepreneurs than for employees (18.3 percent and 9.9 percent, respecti...

Causal Returns to Schooling and Individual Heterogeneity E-mail: In this paper, human capital investments are evaluated by assuming heterogeneous returns to schooling. We use the potential outcome approach to measure the causal effect of human capital investments on earnings as a continuous treatment effect. Empirical evidence is based on a sample of West German full-time employed males (BIBB/I...

This paper investigates the link between domestic income inequality and international trade using a dynamic model of occupational choice. After showing how systematic patterns of comparative advantage arise among countries with no di®erences in their economic fundamentals, I provide two results regarding trade liberalization describing the full transition dynamics. First, international income d...

This article examines how research productivity, administrative service, and teaching affect reputational capital in the market for academic economists. Also, we investigate the issue of the durability of reputational capital, estimating the penalties associated with gaps in research output. Our results reveal that (1) the market makes a distiniction between the quantity and the quality of an i...