A dynamic general equilibrium analysis of the political economy of public education
AbstractThe primary objective of this paper is to highlight the distinct roles of altruism and of self-interest in the political determination of a public education policy. I assess the relative importance of three factors in the determination of the equilibrium level of this policy: altruism, the impact of public funding of education on social security benefits and its impact on factor prices. I then focus on the impact of implementing a social security system on the equilibrium levels of education funding and on welfare. I find that although, in the benchmark economy, the presence of social security might generate support for public funding of education, its overall effect on the well-being of individuals is negative for any level of social security taxation.
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Bibliographic InfoArticle provided by Springer in its journal Journal of Population Economics.
Volume (Year): 19 (2006)
Issue (Month): 2 (June)
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Web page: http://link.springer.de/link/service/journals/00148/index.htm
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Other versions of this item:
- Jorge Soares, 2005. "A Dynamic General Equilibrium Analysis of the Political Economy of Public Education," Working Papers 05-05, University of Delaware, Department of Economics.
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
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