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Mobility and the Role of Education as a Commitment Device

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  • Claudio Thum
  • Silke Uebelmesser

Abstract

European integration forces system competition within European countries. This competition has important implications for both the public pay-as-you-go pension scheme and the public education system. Without labor mobility, each generation has an incentive to invest in the human capital of the subsequent generation in order to maximize pension payments. It is a popular belief that increasing labor mobility decreases the incentives to finance the education of the subsequent generation. This paper shows that this is not true if human capital investment increases the mobility of the subsequent generation and can thus be used as a commitment device for low taxes.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2001/wp-cesifo-2001-04/cesifo_wp450.pdf
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 450.

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Date of creation: 2001
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Handle: RePEc:ces:ceswps:_450

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Keywords: Education; intergenerational transfers; commitment;

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  1. Sinn, Hans-Werner, 1997. "The selection principle and market failure in systems competition," Journal of Public Economics, Elsevier, Elsevier, vol. 66(2), pages 247-274, November.
  2. Robin Boadway & Nicolas Marceau & Maurice Marchand, 1992. "Investment in Education and the Time Inconsistency of Redistributive Tax Policy," Working Papers, Queen's University, Department of Economics 860, Queen's University, Department of Economics.
  3. Gradstein, Mark, 2000. "An economic rationale for public education: The value of commitment," Journal of Monetary Economics, Elsevier, Elsevier, vol. 45(2), pages 463-474, April.
  4. Andersson, Fredrik & Konrad, Kai A., 2001. "Globalization and Human Capital Formation," IZA Discussion Papers 245, Institute for the Study of Labor (IZA).
  5. Konrad, Kai A, 1995. "Social Security and Strategic Inter-vivos Transfers of Social Capital," Journal of Population Economics, Springer, Springer, vol. 8(3), pages 315-26, August.
  6. Mark Gradstein & Moshe Justman, 1996. "The political economy of mixed public and private schooling: A dynamic analysis," International Tax and Public Finance, Springer, Springer, vol. 3(3), pages 297-310, July.
  7. Kehoe, Patrick J, 1989. "Policy Cooperation among Benevolent Governments May Be Undesirable," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 56(2), pages 289-96, April.
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