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Handbook of the Economics of Education, Volume 1

Eric A. Hanushek, Finis Welch
Published Date: 
Amsterdam: North Holland
700 pages

There are many ways to date the development of the economics of education. In the 17th Century, Sir William Petty began writing about the valuation of lives in terms of the productive skills of individuals – a precursor of human capital considerations. Adam Smith followed a century later with direct consideration of the organization and finance of education. Yet, the more natural dating is much more recent with the development and legitimization of the study of human capital lead by Gary Becker, Jacob Mincer, and T.W. Schultz. These initial forays have, however, been followed by a torrent of recent work.

Chapter 1
Post Schooling Wage Growth: Investment, Search and Learning
Yona Rubinstein and Yoram Weiss
Chapter 2
Long-Term Trends in Schooling: The Rise and Decline (?) of Public Education in the
United States
Sandra E. Black and Kenneth L. Sokoloff
Chapter 3
Historical Perspectives on Racial Differences in Schooling in the United States
William J. Collins and Robert A. Margo
Chapter 4
Immigrants and Their Schooling
James P. Smith
Chapter 5
Educational Wage Premia and the Distribution of Earnings: An International Perspective
Franco Peracchi
Chapter 6
Educational Wage Premiums and the U.S. Income Distribution: A Survey
Donald R. Deere and Jelena Vesovic
Chapter 7
Earnings Functions, Rates of Return and Treatment Effects: The Mincer Equation and
James J. Heckman, Lance J. Lochner and Petra E. Todd
viii Contents of the Handbook
Chapter 8
The Social Value of Education and Human Capital
Fabian Lange and Robert Topel
Chapter 9
Why Has Black–White Skill Convergence Stopped?
Derek Neal
Chapter 10
Education and Nonmarket Outcomes
Michael Grossman
Chapter 11
Does Learning to Add up Add up? The Returns to Schooling in Aggregate Data
Lant Pritchett
Chapter 12
Interpreting the Evidence on Life Cycle Skill Formation
Flavio Cunha, James J. Heckman, Lance Lochner and Dimitriy V. Masterov