The Importance of Ability

A model of education where the distribution of innate abilities is the source of heterogeneity is investigated. Public and private education models are investigated and compared. Human capital follows a first order Markov process which is shown to converge to a unique stationary distribution in both education systems. Income distributions are characterised using simulations which suggest positive skewness for both types of education.

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Year of publication:	1997
Authors:	Cardak, B.A.
Institutions:	Department of Economics, Faculty of Business and Economics
Subject:	EDUCATION \| HUMAN CAPITAL \| INCOME DISTRIBUTION

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Series:	Department of Economics - Working Papers Series.
Type of publication:	Book / Working Paper
Notes:	Number 599 35 pages
Classification:	D31 - Personal Income, Wealth and Their Distributions ; I22 - Educational Finance ; J24 - Human Capital; Skills; Occupational Choice; Labor Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005458678