This paper examines optimal investment in children's schooling using a two-period model. Children are assumed to contribute in an economic sense through child labour when they are young and through old-age security as adults. Parents therefore face a trade-off between current and future returns from children. The paper examines how the introduction of public tranfers affects parental decisions on children's schooling.
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Paper provided by Sydney - Department of Economics in its series Papers with number
99-04.