The paper reexamines Lipset's theory of democratization, by distinguishing the role of (economic) development from that … of education, inequality, and (natural) resources. We highlight two contrasting effects of education and human capital … accumulation. On the one side, education prompts economic growth and enriches the budget of the autocratic elite. On the other side …

In many OECD countries income inequality has risen, but surprisingly redistribution as well. The theory attributes this … partly to the redistributive effect of education spending. In the model income inequality and growth depend in an inverted U …-shaped way on education. To maintain a given level of human capital it is shown that a less efficient schooling technology …

education of the population increases the correlation between non-gravity trade and income inequality becomes smaller. Non …-gravity trade has no significant effect on income inequality in countries that are world leaders in education. …

correlation of permanent earnings into family and community effects allowing for life-cycle dynamics; finding that family is the …

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 …