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Human Capital Inequality, Life Expectancy And Economic Growth

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Author Info
Amparo Castelló-Climent
Rafael Doménech

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Abstract

This article presents a model in which inequality affects per capita income when individuals decide to invest in education taking into account their life expectancy, which depends to a large extent on the human capital of their parents. Our results show the existence of multiple steady states depending on the initial distribution of education. The low steady state is a poverty trap in which children raised in poor families have low life expectancy and work as non-educated workers. The empirical evidence suggests that the life expectancy mechanism explains a major part of the relationship between inequality and human capital accumulation. Copyright © 2008 The Author(s).

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0297.2008.02136.x
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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 118 (2008)
Issue (Month): 528 (04)
Pages: 653-677
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Handle: RePEc:ecj:econjl:v:118:y:2008:i:528:p:653-677

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  1. DE LA CROIX, David & SOMMACAL, Alessandro, 2006. "A theory of medicine effectiveness, differential mortality, income inequality and growth for pre-industrial England," CORE Discussion Papers 2006045, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
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