The authors' analysis of growth assumes endogenous fertility and a rising rate of return on human capital as the stock of human capital increases. When human capital is abundant, rates of return on human capital investments are high relative to rates of return on children, whereas, when human...

This paper examines the role of individual instruction and teacher quality in determining economic growth and convergence across school districts. The model shows that if teacher quality is more important for human capital accumulation than individual instruction, human capital convergence will...

An endogenous growth model is developed that produces convergence in per capita income and growth rates of output. Agents have identical preferences and access to identical technologies of production and investment, but differing levels of initial human capital. A spillover effect of human...