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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...
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This paper formulates and estimates an open-economy overlapping generation general-equilibrium model of endogenous heterogeneous human capital in the form of schooling and on-the-job training. Physical capital accumulation is also analyzed. We use the model to explain rising wage inequality in...
Persistent link: https://www.econbiz.de/10013232148
This paper formulates and estimates an open-economy overlapping generation general-equilibrium model of endogenous heterogeneous human capital in the form of schooling and on-the-job training. Physical capital accumulation is also analyzed. We use the model to explain rising wage inequality in...
Persistent link: https://www.econbiz.de/10012471930
To design an optimal education policy, it is essential to account for the fertility differential between the poor and … economy. It is very important to consider general equilibrium effects because the change in either fertility behavior or … fertility behavior, especially differential fertility substantially underestimates the role of credit constraints in the economy …
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