Education, general health, and reproductive health are key indicators of human development. Investments in these domains can also promote economic growth. This paper argues for the importance of human development related investments based on i) a theoretical economic growth model with poverty...

We analyze the optimal life-cycle education decision of a single atomistic individual and show that the standard result of part-time education and part-time work throughout the life-cycle holds only under very special and unrealistic assumptions. Once these assumptions are relaxed, different...

We employ a novel approach for analyzing the effects of relative consumption and relative wealth preferences on both the decentralized and the socially optimal economic growth rates. In the pertinent literature these effects are usually assessed by examining the dependence of the growth rates on...