Using every major nationally-representative dataset on parental and non-parental care provided to children up to age 6, we quantify differences in American children's care experiences by socioeconomic status (SES), proxied primarily with maternal education. Increasingly, higher-SES children...

In this paper we investigate the impact of a reduction in the pension replacement rate on the schooling choice and on inequality. We develop an overlapping generations model in which individuals differ by their life expectancy and in the cost of attending schooling. Individuals optimally choose...

We extend the Lucas' 1988 model introducing two classes of agents with heterogeneous skills, discount factors and initial human capital endowments. We consider two regimes according to the planner's political constraints. In the first regime, that we call meritocracy, the planner faces...