Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the … of education reduces the private return by 2 percentage points, consistent with Katz-Murphy's (1992) elasticity of …

This paper aims to explore the determinants of household income and expenditure growth, and assess whether the poor are …

partly to the redistributive effect of education spending. In the model income inequality and growth depend in an inverted U …-shaped way on education. To maintain a given level of human capital it is shown that a less efficient schooling technology … requires more resources, which lowers pre-tax and post-tax income inequality as well as growth. Using consistently defined …

We develop a classical macroeconomic model to examine the growth and distributional consequences of education. Contrary …-reducing. Expansive education policies may foster growth and reduce earning inequalities between workers, but only by transferring income … recent stylized facts on growth, distribution and education for the US. …

A simple classical-Marxian model of growth and distribution is developed in which education transforms low … education can have a positive effect on growth but by altering the distribution of income rather than by fostering technological …-skilled wages and profit income. We analyze the implications for class divisions, growth and distribution, of the transformation of …