The role of empirical research in policy design

We develop novel methods for estimation and filtering of continuous-time models with stochastic volatility and jumps using so-called Approximate Bayesian Compu- tation which build likelihoods based on limited information.

This CAYT report discusses the strengths and limitations of several approaches to assessing the effect of education on productivity.

We provide a number of contributions of policy, practical and methodological interest to the study of the returns to educational qualifications in the presence of misreporting.