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 compares partial and general equilibrium effects of alternative financial aid policies intended to promote … education, labor 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 compares partial and general equilibrium effects of alternative financial aid policies intended to promote … education, labor 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 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 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 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 …

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 …

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 …

liquidity constraints. The model generates underemployment in equilibrium: workers are employed in jobs for which they are over …-qualified. Subsidizing education can decrease the returns to human capital investment, increase the underemployment rate, and decrease the … rate are inefficiently low. The constrained-efficient allocation is implemented by increasing education subsidies and …