Córdoba, Juan Carlos

This paper provides a theory that explains the cross-country distribution of average years of schooling, as well as the so called human capital premium puzzle. In our theory, credit frictions as well as di¤erences in access to public education, fertility and mortality turn out to be the key...

Resumen: Martellini and Menzio (JPE, 2020) argue that in a search-theoretical model with constant improvements in the search technology, a balanced growth path (BGP) exists if firm-worker matches are inspection goods and the quality of matches follow a Pareto distribution. On...