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Literacy Traps: Society-Wide Education and Individual Skill Premia

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Author Info
Atal, Vidya (Cornell University)
Basu, Kaushik (Cornell University)
Gray, John (Cornell University)
Lee, Travis (Cornell University)
Abstract

Using a model of O-ring production function, the paper demonstrates how certain communities can get caught in a low-literacy trap in which each individual finds it not worthwhile investing in higher skills because others are not high-skilled. The model sheds light on educational policy. It is shown that policy for promoting human capital has to take the form of a mechanism for solving the coordination failure in people's choice of educational strategy.

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File URL: http://www.arts.cornell.edu/econ/CAE/09-05.pdf
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Paper provided by Cornell University, Center for Analytic Economics in its series Working Papers with number 09-05.

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Date of creation: Feb 2009
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Handle: RePEc:ecl:corcae:09-05

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Find related papers by JEL classification:
D20 - Microeconomics - - Production and Organizations - - - General
I28 - Health, Education, and Welfare - - Education - - - Government Policy
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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This page was last updated on 2009-12-4.

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