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We show that a calibrated dynamic skill accumulation model allowing for comparative advantages, can explain the weak (or negative) effects of schooling on productivity that have been recently reported (i) in the micro literature on compulsory schooling, ii) in the micro literature on estimating...
Persistent link: https://www.econbiz.de/10013117619
This study integrates findings from neurobiology and psychology on early childhood development and self-regulation to assess returns to education. Our framework for evaluating the distribution of age-specific returns to investments in cognitive and noncognitive skills is a lifecycle simulation...
Persistent link: https://www.econbiz.de/10013316952
In this paper we analyze investments in human capital assets in a way which is standard for financial assets, but not (yet) for human capital assets. We study mean-variance plots of human capital assets. We compare the properties of human capital returns using a performance measure and by using...
Persistent link: https://www.econbiz.de/10014112875
We study optimal tax and educational policies in a dynamic private information economy, in which ex-ante heterogeneous individuals make an educational investment early in their life and face a stochastic wage distribution. We characterize labor and education wedges in this setting analytically...
Persistent link: https://www.econbiz.de/10013118777
time-consistency problem in income redistribution. There may be political support for so generous subsidization that it … income redistribution …
Persistent link: https://www.econbiz.de/10012776006
We characterize optimal redistribution in a dynastic family model with human capital. We show how a government can …
Persistent link: https://www.econbiz.de/10013042983
students and district-level administrative data on mining production and the redistribution of mining taxes to local … governments, we find no effect from production. However, redistribution of mining taxes increases math test scores by 0 … increases in adult employment and health outcomes of adults and children, as key mechanisms from the redistribution. Policy …
Persistent link: https://www.econbiz.de/10012950918
How do shocks to parental income drive adolescent human capital, including years of schooling, high school dropout, university attendance, IQ and health? A structural model decomposes household shocks into permanent and transitory components, then the effect of shocks at age 1-16 is estimated...
Persistent link: https://www.econbiz.de/10013137245
Policy debates about the balance of vocational and general education programs focus on the school-to-work transition. But with rapid technological change, gains in youth employment from vocational education may be offset by less adaptability and thus diminished employment later in life. To test...
Persistent link: https://www.econbiz.de/10013118533
While a large literature has focused on the impact of parental investments on child cognitive development, very little is known about the role of child's own investments. Information on how children invest their time separately from parents is probably little informative for babies and toddlers,...
Persistent link: https://www.econbiz.de/10013099704