9724748 Fraumeni This three-year award supports US-UK cooperative research in education economics between Barbara Fraumeni at Northeastern University and Nicholas Oulton at the National Institute of Economic and Social Research in London. The objective of their project is to generate improved measures of investment in education and human capital in the United Kingdom from the 1950s up to the present. The US and UK investigators will apply a methodology for valuing investment in education developed by Dr. Fraumeni and her research partner Dale Jorgenson of Harvard University. The estimates of education output and investment in the UK will then be compared to estimates for the US and Sweden and used to determine the efficiency of the education sector and the impact of investment in human capital to economic growth. The US investigator brings to this collaboration expertise on the theoretical approach and knowledge of the US and Swedish systems. This is complemented by the British investigators' expertise on the UK economy and education system and their access to education data in the UK. ***
