Education supply, economic growth and the dynamic 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 différences 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 InfoPaper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 2003022.
Date of creation: 01 Jun 2003
Date of revision:
Groth; Education; Human capital; Social mobility;
Other versions of this item:
- Vincent Barthélémy & Philippe Michel, 2003. "Education supply, economic growth and the dynamics of skills," Recherches économiques de Louvain, De Boeck Université, vol. 69(2), pages 145-165.
- 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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