Education supply, economic growth and the dynamics of skills
AbstractThis paper examines the dynamics of the skill supply and its incidence on economic growth in the presence of education policies. When there are indivisibilities in the financing of human capital, small differences in the initial distribution of skills may greatly affect the stationary distribution : the economy may end up in a "low skill trap", or in a high skill equilibrium. The model implies that for some ranges of initial distributions there will be intergenerational immobility. Finally, cross-country diffÃ©rences in long-term macroeconomic adjustment to education policies may be attributed, among other factors, to the existence of a congestion effect in the education System.
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Bibliographic InfoArticle provided by De Boeck Université in its journal Recherches économiques de Louvain.
Volume (Year): 69 (2003)
Issue (Month): 2 ()
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Web page: http://www.cairn.info/revue-recherches-economiques-de-louvain.htm
Other versions of this item:
- Vincent BARTHELEMY & Philippe MICHEL, 2003. "Education supply, economic growth and the dynamic of skills," Discussion Papers (REL - Recherches Economiques de Louvain) 2003022, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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