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Education and income inequality: The role of a social protection system

Author

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  • Alexandra Rillaers

    (IRES, Université catholique de Louvain, 3, Place Montesquieu, B-1348 Louvain-la-Neuve, Belgium)

Abstract

In this paper we aim to understand the role a welfare state can play in stimulating risky but profitable activities like investment in education, and in reducing income inequality. We analyze how unemployment benefits may affect investment in education when the latter is characterized by uncertain returns. This is done in an overlapping generations model in which endogenous growth is introduced through human capital accumulation. We develop a numerical example of the model in order to reproduce some key differences between the European versus the North American economy; differences that, according to this model, result from the different degree of social protection characterizing both economies.

Suggested Citation

  • Alexandra Rillaers, 2001. "Education and income inequality: The role of a social protection system," Journal of Population Economics, Springer;European Society for Population Economics, vol. 14(3), pages 425-443.
    • Handle: RePEc:spr:jopoec:v:14:y:2001:i:3:p:425-443
    Note: Received: 02 June 1999/Accepted: 22 February 2000
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    Citations

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    Cited by:

    1. Andrés Rodríguez-Pose & Vassilis Tselios, 2012. "Welfare Regimes and the Incentives to Work and Get Educated," Environment and Planning A, , vol. 44(1), pages 125-149, January.
    2. Chen Lu & Mitsuyoshi Yanagihara, 2013. "Life Insurance, Human Capital Accumulation and Economic Growth," Australian Economic Papers, Wiley Blackwell, vol. 52(1), pages 52-60, March.
    3. Dimitrios Varvarigos, 2013. "Endogenous Cycles and Human Capital," Discussion Papers in Economics 13/18, Division of Economics, School of Business, University of Leicester.
    4. Luciano Fanati & Piero Manfredi, 2003. "Population, Unemployment and Economic Growth Cycles: A Further Explanatory Perspective," Metroeconomica, Wiley Blackwell, vol. 54(2‐3), pages 179-207, May.

    More about this item

    Keywords

    Uncertainty · education · income inequality;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I29 - Health, Education, and Welfare - - Education - - - Other

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