Returns to Private Education in Peru The private provision of educational services has been representing an increasing fraction of the Peruvian schooling system, especially in recent last decades. While there have been many claims about the differences in quality between private and public schools, there is no complete assessment of the different impacts of these two type of providers on the la...

Despite its relatively small size, the private school sector plays a prominent role in British society. This paper focuses on the changing wage returns to private education in Britain using the British Household Panel Survey and the two mature birth cohort studies, the National Child Development Study (NCDS) and the British Cohort Study (BCS). From a theoretical perspective, the pay premium for...

This paper studies the nature of long-run income distribution in a competitive economy with borrowing constraints. Parents can invest in their children’s education and leave !nancial bequests to them. All !nancial bequests must be nonnegative. In other words, parents cannot borrow from their children’s future earnings. There is a continuum of occupations with continuously varying entry (educati...

This paper attempts to develop game theoretical models of parents’ decision-making on the consumption of private tutoring (PT). From the individual decision maker’s perspective, investment in PT guarantees a high private rate of return, while from the country’s viewpoint, PT entails a low social rate of return with substantial opportunity and transaction cost. In this respect, Spence’s job mark...