Education Quality Has Less to Do with Adult Outcomes Than You Might Think

A new paper assesses the contributions of education and labor markets to differences across regional labor markets in the United States and finds that differences in access to high-quality elementary and secondary schools are not a key channel driving the strength of the association between parents’ incomes and their children’s incomes when they reach adulthood.  

Read more

The Rate of Return on Everything

A new paper purports to have finally unlocked the mystery of the rate of return on capital. Here the authors report on their research on an enormous data set on asset returns for 16 advanced economies from 1870 to 2015 and provide surprising insight into the relationship between long-run growth and capital—a connection that has occupied thinkers from Mill to Marx to Piketty and many others to this day.  

Read more
1 2