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Heterogeneous Preferences, Education Expenditures and Income Distribution

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  • Cardak, Buly A

Abstract

This paper introduces heterogeneous preferences to a growth model that incorporates human capital, accumulated through either public or private education. The implications of heterogeneous preferences for income and its distribution are the focus of the paper. Public education expenditure is determined through a voting mechanism where the median preference rather than median income household is the decisive voter. The paper extends the work of G. Glomm and B. Ravikumar (1992) and shows, first, that heterogeneous preferences increase income inequality in the private education model and, second, public education can overcome the added heterogeneity and reduce income inequality. The results strengthen the arguments for public education as a redistributive mechanism. Copyright 1999 by The Economic Society of Australia.

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Bibliographic Info

Article provided by The Economic Society of Australia in its journal The Economic Record.

Volume (Year): 75 (1999)
Issue (Month): 228 (March)
Pages: 63-76

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Handle: RePEc:bla:ecorec:v:75:y:1999:i:228:p:63-76

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Cited by:
  1. repec:dgr:uvatin:2001104 is not listed on IDEAS
  2. Mausumi Das, 2002. "Persistent Inequality: An Explanation Based on Limited Parental Altruism," Working papers 101, Centre for Development Economics, Delhi School of Economics.
  3. Thi Kim Cuong PHAM, 2004. "Wealth distribution, endogenous fiscal policy and growth: status-seeking implications," Working Papers of BETA 2004-11, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  4. Pham, Thi Kim Cuong, 2005. "Economic growth and status-seeking through personal wealth," European Journal of Political Economy, Elsevier, vol. 21(2), pages 407-427, June.
  5. Buly Cardak & James Ted McDonald, 2004. "Neighbourhood effects, preference heterogeneity and immigrant educational attainment," Applied Economics, Taylor & Francis Journals, vol. 36(6), pages 559-572.
  6. Andrés Rodríguez-Pose & Vassilis Tselios, 2007. "Education and income inequality in the regions of the European Union," Working Papers 2007-17, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  7. Burcu Kiran, 2014. "Testing the impact of educational expenditures on economic growth: new evidence from Latin American countries," Quality & Quantity: International Journal of Methodology, Springer, vol. 48(3), pages 1181-1190, May.
  8. Nikos Benos, 2005. "Education Systems, Growth and Welfare," University of Cyprus Working Papers in Economics 5-2005, University of Cyprus Department of Economics.
  9. Onozaki, Tamotsu & Sieg, Gernot & Yokoo, Masanori, 2003. "Stability, chaos and multiple attractors: a single agent makes a difference," Journal of Economic Dynamics and Control, Elsevier, vol. 27(10), pages 1917-1938, August.
  10. John Creedy, 2006. "Education Vouchers: Means Testing Versus Uniformity," Department of Economics - Working Papers Series 978, The University of Melbourne.
  11. Nikos Benos, 2004. "Education Policies and Economic Growth," University of Cyprus Working Papers in Economics 4-2004, University of Cyprus Department of Economics.
  12. Viaene, Jean-Marie & Zilcha, Itzhak, 2002. "Capital markets integration, growth and income distribution," European Economic Review, Elsevier, vol. 46(2), pages 301-327, February.

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