This paper studies second best policies for education, saving, and labour in an OLG model in which endogenous growth … equilibria are inefficient. The inefficiency is exacerbated if selfish individuals externalize the positive effect of education … on descendents' productivity. It is shown to be second best to subsidize education even relative to the first best if the …

an instrument allows to disentangle the pure effect of parental income from effects related to parental education, family … to raise schooling levels and to protect investment in children's education against transitory income shocks. Although …

positive outcomes on health and education. In this paper, we are particularly interested in testing if children participating …

In a globalized, knowledge-based economy, education and training is of great importance for increasing economic and …. According to Eurostat, Romania allocates less money to education than most European Union countries. These allocations reflect … the low level of attention paid to the education and training system. This paper analyses the situation and trends that …

We estimate the effects of college education on female fertility – a so far understudied margin of education, which we … instrument by arguably exogenous variation induced through college expansions. While college education reduces the probability of … becoming a mother, college-educated mothers have slightly more children than mothers without a college education. Unfolding the …