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Life in shackles? : the quantitative implications of reforming the educational loan system
Heijdra, Ben J.; Kindermann, Fabian; Reijnders, Laurie S. M. - 2014
In this paper we conduct a quantitative analysis of a number of stylized educational loan systems. We develop a stochastic general equilibrium model of a closed economy with a competitive firm sector and a government that levies taxes and administers educational loans. Individuals are...
Persistent link: https://www.econbiz.de/10010418274
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Human capital risk, contract enforcement, and the macroeconomy
Krebs, Tom; Kuhn, Moritz; Wright, Mark L. J. - 2015
We use data from the Survey of Consumer Finance and Survey of Income Program Participation to show that young households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable macroeconomic model with human capital risk, age-dependent...
Persistent link: https://www.econbiz.de/10011308568
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Human capital risk, contract enforcement, and the macroeconomy
Krebs, Tom; Kuhn, Moritz; Wright, Mark L. J. - 2014
We use data from the Survey of Consumer Finance and Survey of Income Program Participation to show that young households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable macroeconomic model with human capital risk, age-dependent...
Persistent link: https://www.econbiz.de/10010424292
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Wealth inequality and the optimal level of government debt
Röhrs, Sigrid; Winter, Christoph - 2011
In this paper, we quantitatively analyze to what extent a benevolent government should issue debt in a model where households are subject to idiosyncratic productivity shocks, insurance markets are missing and borrowing is restricted. In this environment, issuing government bonds facilitates...
Persistent link: https://www.econbiz.de/10010316936
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Welfare costs of business cycles when markets are incomplete
Krebs, Tom - 2004
This paper analyzes the welfare costs of business cycles when workers face uninsurable idiosyncratic labor income risk. In accordance with the previous literature, this paper decomposes labor income risk into an aggregate and an idiosyncratic component, but in contrast to the previous...
Persistent link: https://www.econbiz.de/10010318998
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Accounting for the racial property crime gap in the US: A quantitative equilibrium analysis
Cozzi, Marco - 2010
This paper studies the effects of both labor market conditions and asset poverty on the property crimes involvement of American males. Since the mid 60's the property crimes arrest rate has been four times higher for black males if compared to white ones. Another set of stylised facts show for...
Persistent link: https://www.econbiz.de/10010290336
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Higher education funding, welfare and inequality in equilibrium
Mellior, Gustavo - 2020
Persistent link: https://www.econbiz.de/10012222223
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Was higher education a major channel through which the US became an economic superpower in the 20th century?
Cook, Adam; Ehrlich, Isaac - 2018
aggregate and per capita GDP as a case study of recent models of endogenous growth, where "human capital" is the engine of … growth. By human capital we mean an intangible asset, best thought of as a stock of embodied and disembodied knowledge … of growth in per capita income in the US relative to the UK and other major European countries. …
Persistent link: https://www.econbiz.de/10011881092
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Was higher education a major channel through which the US became an economic superpower in the 20th century?
Cook, Adam; Ehrlich, Isaac - 2018
in the 20th century in both aggregate and per capita GDP as a case study of recent models of endogenous growth, where … "human capital" is the engine of growth. By human capital we mean an intangible asset, best thought of as a stock of embodied … to have spearheaded a higher long-term rate of growth in per capita income in the US relative to the UK and other major …
Persistent link: https://www.econbiz.de/10011804538
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Notes on the accumulation and utilization of capital : some empirical issues
Nikiforos, Michalis - 2020
utilization. First, it explains why utilization is a crucial variable for the various theories of growth and distribution … growth rate of demand that matters, not the level of demand.The paper makes three contributions. First, following up on …
Persistent link: https://www.econbiz.de/10012208160