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An optimal education subsidy formula is derived using an overlapping generations model with parental altruism. The model predicts that public education subsidy is greater in economies with lesser parental altruism because a benevolent government has to compensate for the shortfall in private...
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To examine how human capital accumulation influences both economic growth and income inequality, we carefully endogenize the demand and supply of skills. We explicitly introduce the costs and externalities in education, and examine how both relate to learning-by-doing and R&D intensity. In...
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We analyze the di fferential growth e ffects of basic research, applied research, and embodied human capital … and expenditures for basic research. Our results also indicate that raising public investments in basic research reduces … economy. These short-run costs of basic research might be an explanation for the reluctance of governments to increase public …
Persistent link: https://www.econbiz.de/10010485995
Conventional R&D-based growth theory argues that productivity growth is driven by population growth but the data …
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