We analyze the interaction between human capital and growth in Russia, where there are substantial human capital reserves but an education system seriously out of sync with the world economy. We define a rule for the timing of educational restructuring, and show that this time is pareto optimal...

This paper extends an intergenerational context to the prospect of upward mobility hypothesis, showing that the poor majority in democracies may not support massive redistribution for the sake of their children’s educational attainment and upward mobility. We develop an overlapping generations...

The paper shows that if an individual's cost of human capital accumulation depends on his parents' human capital and there exists a "raw labor" sector of production, individuals with low parental human capital may devote little effort in study and become unskilled workers. Further, if an...