We consider an Overlapping-generations economy where the aggregative production process uses physical capital and human capital. The human capital level of each individual is determined by the direct investment in education and some random "ability".
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Paper provided by Tel Aviv - the Sackler Institute of Economic Studies in its series Papers with number
27-96.
Length: 32 pages Date of creation: 1996 Date of revision: Handle: RePEc:fth:teavsa:27-96
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Find related papers by JEL classification: O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration I28 - Health, Education, and Welfare - - Education - - - Government Policy
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