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Human Capital and Inequality Dynamics: The Role of Education Technology

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  • JEAN-MARIE VIAENE
  • ITZHAK ZILCHA

Abstract

The paper offers a unified way to examine several puzzles on inequality dynamics. It focuses on differences in the education technology and their effects on income distributions. Our overlapping generations economy has the following features: (1) consumers are heterogenous with respect to ability and parental human capital; and (2) intergenerational transfers take place via parental direct investment in education and, public education financed by taxes (possibly, with a level determined by majority voting). We explore several variations in the production of human capital, some attributed to 'home-education' and others related to 'public-education', and indicate how various changes in education technologies affect the intragenerational income inequality along the equilibrium path. Copyright (c) The London School of Economics and Political Science 2008.

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Bibliographic Info

Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 76 (2009)
Issue (Month): 304 (October)
Pages: 760-778

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Handle: RePEc:bla:econom:v:76:y:2009:i:304:p:760-778

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References

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  1. Diego Restuccia & Carlos Urrutia, 2004. "Intergenerational Persistence of Earnings: The Role of Early and College Education," American Economic Review, American Economic Association, vol. 94(5), pages 1354-1378, December.
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  16. Fischer, Ronald D., 2001. "The evolution of inequality after trade liberalization," Journal of Development Economics, Elsevier, vol. 66(2), pages 555-579, December.
  17. Gary S. Becker & Nigel Tomes, . "Human Capital and the Rise and Fall of Families," University of Chicago - Population Research Center 84-10, Chicago - Population Research Center.
  18. Glaeser, Edward L., 1994. "Why does schooling generate economic growth?," Economics Letters, Elsevier, vol. 44(3), pages 333-337.
  19. Cardak, B.A., 1998. "Preferences Over Education Expenditure," Department of Economics - Working Papers Series 623, The University of Melbourne.
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Citations

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Cited by:
  1. Hatsor, Limor, 2012. "Occupational choice: Teacher quality versus teacher quantity," Labour Economics, Elsevier, vol. 19(4), pages 608-623.
  2. Franz Gehrels, 2013. "United States and German Real Capital Formation and Social Investment in the Sciences and Humanities," Atlantic Economic Journal, International Atlantic Economic Society, vol. 41(3), pages 225-229, September.
  3. Ziesemer, Thomas, 2011. "What Changes Gini Coefficients of Education? On the dynamic interaction between education, its distribution and growth," MERIT Working Papers 053, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  4. Franz Gehrels, 2010. "On Optimal Social Investment in the Sciences and Humanities," Atlantic Economic Journal, International Atlantic Economic Society, vol. 38(3), pages 325-330, September.
  5. Mausumi Das & Subrata Guha, 2012. "What Do Teachers Do? Teacher Quality Vis-a-vis Teacher Quantity in a Model of Public Education and Growth," Working papers 216, Centre for Development Economics, Delhi School of Economics.
  6. Ziesemer, Thomas, 2011. "What Changes Gini Coefficients of Education? On the dynamic interaction between education, its distribution and growth," MERIT Working Papers 053, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

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