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In this paper I study a discrete-time version of the Lucas model with the endogenous leisure but without physical capital. Under standard conditions I prove that the optimal human capital sequence is increasing. If the instantaneous utility function and the production function are Cobb-Douglas,...
Persistent link: https://www.econbiz.de/10010750501
The purpose of this paper is to demonstrate that inherited humain capital is a powerful vector of inequality formation and persistence, irrespective of its links with financial wealth endowment. This paper argues that the agents who inherit a low level of human capital bear a greater utility...
Persistent link: https://www.econbiz.de/10010750358
educational choices. Individuals decide whether to invest in additional education according to their expectations regarding future …. Then, we analyse the long-term implications of a public policy that would favour education and make it possible to select …
Persistent link: https://www.econbiz.de/10010603680
the probability of entering higher education. Differences in ability(ies) and in parental human capital are much more …
Persistent link: https://www.econbiz.de/10008790910
The purpose is to provide some empirical evidence for promoting new insights into the economics of education … impact on fixed earnings and flexible pay of the traditional human capital theory variables (education and experience) on the …
Persistent link: https://www.econbiz.de/10008792416
probability of entering higher education. Differences in ability(ies) and in parental human capital are much more important. in …
Persistent link: https://www.econbiz.de/10008793102
primary education and 111 countries/areas in secondary education between 1965 and 2010 …
Persistent link: https://www.econbiz.de/10010899182
We review the economic literature on the impacts of the several dimensions of education upon intergenerational … inequality persistency. It is firstly outlined that the critical increase in the population education level in all countries has … not come with lower inequality. The basic tools of education and intergenerational mobility modelling are subsequently …
Persistent link: https://www.econbiz.de/10010899579
New fast estimation methods stemming from control theory lead to a fresh look at time series, which bears some resemblance to "technical analysis". The results are applied to a typical object of financial engineering, namely the forecast of foreign exchange rates, via a "model-free" setting,...
Persistent link: https://www.econbiz.de/10008791958
We are settling a longstanding quarrel in quantitative finance by proving the existence of trends in financial time series thanks to a theorem due to P. Cartier and Y. Perrin, which is expressed in the language of nonstandard analysis (Integration over finite sets, F. & M. Diener (Eds):...
Persistent link: https://www.econbiz.de/10008792433