We develop a general equilibrium overlapping generations model which is based on the view that education makes workers … increase productivity. One important implication of the model is that the enrolment rate to education has a negative effect on … relationship between education and economic growth that has been found in the empirical macroeconomic literature. Conversely, for a …

idea of lifelong learning, but it remains unclear how to finance the education of adult students who are working … mechanism which reduces income inequality and provides an incentive for all adults to invest more in education. As a consequence …