The paper studies the power of educational investments in relation to transfers for fostering lifetime income and for … reducing income inequality in Germany. The welfare analysis is based on a model of age-dependent human capital accumulation … transition until 2080. If policy aims at reducing the inequality of lifetime income among people of the same generation …

The paper investigates determinants of formal and non-formal continuous vocational training and its income effects … on income are rather small or equal to zero with the self-employed and rather high among employed workers, both in the … group of trainees and non-trainees. Non-formal training has a non-zero effect on income as well. The determinants of income …

individuals during childhood. Furthermore, high levels of life cycle income inequality and a high skill level increase the optimal …