This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote … education, labour supply, and consumption/saving decisions. Altruistic parents make inter vivos transfers to their children … of funding for college education. We find that the current financial aid system in the U.S. improves welfare, and …

This paper examines the equilibrium effects of alternative financial aid policies intended to promote college … participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor … education. We find that the current financial aid system in the U.S. improves welfare, and removing it would reduce GDP by 4 …

This paper examines the equilibrium effects of alternative financial aid policies intended to promote college … participation. We build an overlapping generations life cycle model with education, labor supply, and consumption/saving decisions …. Cognitive and non-cognitive skills of children depend on the cognitive skills and education of parents, and affect education …

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 heterogeneous in their talent for education and ability to learn on the job and …

period, first the post-World War baby boom and then the substantial increase in education led to higher economic growth than … otherwise expected. As the pace of increase in education slowed and the workforce aged toward the end of the period, human …