This paper studies a two-region model in which unemployment, education decisions and interregional migration are … change reduces wages of the unskilled. Both education and migration decisions are distorted by a uniform unemployment …

endogenous fertility, two regimes of education finance are compared: central and local education. Using numerical simulation, I … find that local education finance yields higher growth at the price of increased inequality. Aggregate fertility may be … lower or higher under federalism. Interestingly, the fertility differential is reversed: while under central finance, rich …

This paper considers how optimal education and tax policy depends on the risk properties of human capital. It is … positive or a negative education premium. In the same model a positive intertemporal wedge is optimal. A set of generalizations …, including non-observability of education, non-observability of consumption, and temporal resolution of uncertainty, are then …

This paper studies second best policies for education, saving, and labour in an OLG model in which endogenous growth … equilibria are inefficient. The inefficiency is exacerbated if selfish individuals externalize the positive effect of education … on descendents' productivity. It is shown to be second best to subsidize education even relative to the first best if the …

work a child does, are private information, the second-best policy uses a combination of need and merit based education …

The perpetual inventory method used for the construction of education data per country leads to systematic measurement … education level between census data and observations constructed from enrolment data. We discuss a methodology for correcting …

It has been argued that increased life expectancy raises the rate of return on education, causing a rise in the … investment in education followed by an increase in lifetime labor supply. Empirical evidence of these relations is rather weak … dependence of hazard rates, which determine individuals' behavioral response w.r.t. education, work and age of retirement …