Dávila, Julio - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2011
suboptimal mix of size and skills of the population. In particular, households would underinvest in their children education … resulting from the households' fertility and education choices is a public good, then competitive equilibria typically deliver a …-financed compulsory education is unlikely to implement the optimal steady state, even if the mandatory level of education is the optimal …