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Hendricks, Lutz - 2015

This paper is motivated by the fact that nearly half of U.S. college students drop out without earning a bachelor's degree. Its objective is to quantify how much uncertainty college entrants face about their graduation outcomes. To do so, we develop a quantitative model of college choice. The...

Persistent link: https://www.econbiz.de/10013027089

Student Awareness of Costs and Benefits of Educational Decisions : Effects of an Information Campaign and Media Exposure

McGuigan, Martin - 2014

University fees have recently trebled in England, prompting fears that young people may be put off from participating in higher education. We investigate students' knowledge and their receptiveness to information campaigns about the costs and benefits of staying on in education. We compare the...

Persistent link: https://www.econbiz.de/10013043598

How Much Do Educational Outcomes Matter in OECD Countries?

Hanushek, Eric A.; Woessmann, Ludger - 2021

Existing growth research provides little explanation for the very large differences in long-run growth performance across OECD countries. We show that cognitive skills can account for growth differences within the OECD, whereas a range of economic institutions and quantitative measures of...

Persistent link: https://www.econbiz.de/10013316138

Optimal Taxation of Human Capital and the Earnings Function

Jacobs, Bas; Bovenberg, A. Lans - 2021

This paper explores how the specification of the earnings function impacts the optimal tax treatment of human capital. If education is complementary to labor effort, education should be subsidized to offset tax distortions on labor supply. However, if most of the education is enjoyed by high...

Persistent link: https://www.econbiz.de/10013316559

Optimal Taxation of Risky Human Capital

Jacobs, Bas - 2009

In a model with ex-ante homogenous households, earnings risk and a general earnings function, we derive the optimal … (overinvestment) in education due to risk. Education policy unambiguously allows for more social insurance if education is a risky … activity. However, if education hedges against labor market risk, optimal tax rates could be lower than without education …

Persistent link: https://www.econbiz.de/10012765194

Optimal Policy and the Risk Properties of Human Capital Reconsidered

Anderberg, Dan - 2008

This paper considers how optimal education and tax policy depends on the risk properties of human capital. It is … demonstrated that a key feature of human capital investments is whether they increase or decrease wage risk. In a benchmark model …

Persistent link: https://www.econbiz.de/10012768814

Individual Investments in Education and Health : Policy Responses and Interactions

Carbone, Jared C. - 2016

Empirical studies show that years of schooling are positively correlated with good health. The implication may go from education to health, from health to education, or from factors that influence both variables. We formalize a model that determines an individual's demand for knowledge and...

Persistent link: https://www.econbiz.de/10012978378

Elite Education, Mass Education, and the Transition to Modern Growth

Strulik, Holger - 2015

We propose an innovation-driven growth model in which education is determined by family background and cognitive ability. We show that compulsory schooling can move a society from elite education to mass education, which then triggers market R&D. This means that our model rationalizes two...

Persistent link: https://www.econbiz.de/10013009852

Capital-Skill Complementarity and the Emergence of Labor Emancipation

Ashraf, Quamrul H. - 2017

This paper advances a novel hypothesis regarding the historical roots of labor emancipation. It argues that the decline of coercive labor institutions in the industrial phase of development has been an inevitable by-product of the intensification of capital-skill complementarity in the...

Persistent link: https://www.econbiz.de/10012956802

Balanced Growth Despite Uzawa

Grossman, Gene M. - 2016

Evidence for the United States suggests balanced growth despite falling investment-good prices and less than unitary elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa's theorem to show that introducing human capital...

Persistent link: https://www.econbiz.de/10012996335

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