Lochner, Lance; Monge-Naranjo, Alexander - University of Western Ontario, CIBC Centre for Human … - 2012
We review studies of the impact of credit constraints on the accumulation of human capital. Evidence suggests that … overall lifetime acquisition of human capital. We also review the intergenerational literature and examine the macroeconomic … human capital literature is the impo- sition of ad hoc constraints on credit. We propose a more careful treatment of the …