Human Capital and Education in Puerto Rico
An important element of human capital is educational attainment. A series of recent papers highlights the importance of the quality of education—which determines the skills actually learned, rather than the number of years spent in a classroom—as a main driver of growth.
Migration in Puerto Rico: Is There a Brain Drain?
Given Puerto Rico’s long-term economic malaise and ongoing fiscal crisis, it is no wonder that out-migration of the Island’s residents has picked up.
Working as a Barista After College Is Not as Common as You Might Think
Jaison R. Abel and Richard Deitz The image of a newly minted college graduate working behind the counter of a hip coffee shop has become a hallmark of the plight of recent college graduates following the Great Recession. Recurring news stories about young college graduates stuck in low-skilled jobs make it easy to see why […]
College May Not Pay Off for Everyone
In our recent Current Issues article and blog posts on the value of a college degree, we showed that the economic benefits of a bachelor’s degree still far outweigh the costs.
Staying in College Longer Than Four Years Costs More Than You Might Think
In yesterday’s blog post and in our recent article in the New York Fed’s Current Issues series, we showed that the economic benefits of a bachelor’s degree still outweigh the costs, on average, even in today’s difficult labor market.
Are Economic Values Transmitted from Parents to Children?
Economic research shows that differences in cultural traits and values—for example, trust, or the propensity to cooperate and not free-ride on others—are important determinants of economic outcomes, such as growth, economic and financial development, and international trade.
How Colleges and Universities Can Help Their Local Economies
Policymakers are increasingly viewing colleges and universities as important engines of growth for their local areas.