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In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … enhancing the quality of education. The necessary expenditures are optimally financed by regressive tuition fees and the net …
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In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … enhancing the quality of education. The necessary expenditures are optimally financed by regressive tuition fees and the net …
Persistent link: https://www.econbiz.de/10013316416
Demographic change belongs to the mega-trends of the 20th and the 21st century. The ongoing aging process in major industrialized countries gives rise to the relative scarcity of raw labor and the relative abundance of physical capital. Standard macroeconomic models suggest that this depresses...
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The literature suggests that the household invests in the human capital of a child member not only for altruistic reasons but also as insurance against future income shocks. Hence, the allocation of the child's time between school and work is a function of the risk preference of the household...
Persistent link: https://www.econbiz.de/10012200935
attenuate factor price movements in response to birth rate shocks. Specifically, we show that if education spending per child is … size of each generation. The degree of this attenuation effect will depend on the effectiveness of education spending in … own demographic uncertainty. As a final exercise, we demonstrate that if the tax rate funding education spending varies …
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