Lance Lochner

TL;DR: In this paper, the authors investigated the effect of high school graduation on participation in criminal activity accounting for endogeneity of schooling and found that completing high school reduces the probability of incarceration by about.76% for whites and 3.4% for blacks.

TL;DR: In this paper, the authors formalize the concepts of self-productivity and complementarity of human capital investments and use them to explain the evidence on skill formation, and provide a theoretical framework for interpreting the evidence from a vast empirical literature, for guiding the next generation of empirical studies, and for formulating policy.

TL;DR: In this article, the authors investigated the effect of high school graduation on participation in criminal activity accounting for endogeneity of schooling and found that completing high school reduces the probability of incarceration by about.76% for whites and 3.4% for blacks.

TL;DR: In this paper, the authors consider the economic interpretation of these analyses and how the availability of repeated cross-section and panel data improves the ability of analysts to estimate the rate of return, and propose a nonparametric approach for estimating marginal internal rates of return that takes into account tuition, income taxes and forms of uncertainty.

TL;DR: This paper developed and estimated an overlapping generations general equilibrium model of labor earnings, skill formation, and physical capital accumulation with heterogenous human capital, which analyzes both schooling choices and post-school on-the-job investment in skills in a framework in which different schooling levels index different skills.