income for different education groups and to estimate the level of consumption smoothing. We split households into three … groups based on educational attainment: primary education, secondary school, and university. We find that the university … with less education. This implies that investing in education is an investment not only in higher income and sometimes more …

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 …

In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … enhancing the quality of education. The necessary expenditures are optimally financed by regressive tuition fees and the net …

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 …, compulsory education is implemented first and triggers the onset of market R&D. According to the British way, market R&D is …

social security schemes may a¤ect welfare, human capital investment and labor supply. We analyze and compare three different …

for both the public pay-as-you-go pension scheme and the public education system. Without labor mobility, each generation … a popular belief that increasing labor mobility decreases the incentives to finance the education of the subsequent …

-aged owning land may gain by providing public education even when they cannot tax the young. This requires that labor is not … mobile. Furthermore, establishing public education may benefit only the generation which pays for education twice, first for …

The aim of this paper is to study the long-run effects of a longevity increase on individual decisions about education …

Mobility of highly-skilled workers affects and is affected by labor market conditions, taxes, and other policies. This …