Staff research, Publications
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Heterogeneous Returns to U.S. College Selectivity and the Value of Graduate Degree Attainment
Existing studies on the returns to college selectivity have mixed results, mainly due to the difficulty of controlling for selection into more-selective colleges based on unobserved ability. -
Lessons from the Financial Crisis: Bank Performance and Regulatory Reform
The financial systems of some countries fared materially better than others during the global financial crisis of 2007-09. -
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Expansion of Higher Education, Employment and Wages: Evidence from the Russian Transition
This paper analyzes the effects of an educational system expansion on labour market outcomes, drawing upon a 15-year natural experiment in the Russian Federation. Regional increases in student intake capacities in Russian universities, a result of educational reforms, provide a plausibly exogenous variation in access to higher education. -
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December 10, 2013
Financial System Review - December 2013
There have been positive developments in the global financial system since the June Financial System Review, in part reflecting some encouraging signs about the global economy. At the same time, significant vulnerabilities remain. The Governing Council judges that the overall risk to the stability of Canada’s financial system has decreased from “high” to “elevated” over the past six months. -