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What explains schooling differences across countries?

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  • Cordoba, Juan Carlos
  • Ripoll, Marla

Abstract

This paper provides a theory that explains the cross-country distribution of average years of schooling, as well as the so called human capital premium puzzle. In our theory, credit frictions as well as differences in access to public education, fertility and mortality turn out to be the key reasons why schooling differs across countries. Differences in growth rates and in wages are second order.

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Bibliographic Info

Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 36066.

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Date of creation: 01 Mar 2013
Date of revision:
Publication status: Published in Journal of Monetary Economics, March 2013, vol. 60 no. 2, pp. 184-202
Handle: RePEc:isu:genres:36066

Contact details of provider:
Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Email:
Web page: http://www.econ.iastate.edu
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Keywords: human capital; life expectancy; per capita income di§erences; public education spend- ing; life cycle model;

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References

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  1. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
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  3. Diego Restuccia & Guillaume Vandenbroucke, 2013. "Explaining Educational Attainment across Countries and over Time," Working Papers tecipa-505, University of Toronto, Department of Economics.
  4. Birchenall, Javier A. & Soares, Rodrigo R., 2009. "Altruism, fertility, and the value of children: Health policy evaluation and intergenerational welfare," Journal of Public Economics, Elsevier, vol. 93(1-2), pages 280-295, February.
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  23. De Gregorio, Jose, 1996. "Borrowing constraints, human capital accumulation, and growth," Journal of Monetary Economics, Elsevier, vol. 37(1), pages 49-71, February.
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  32. Marla Ripoll & Juan Carlos Cordoba, 2011. "A Contribution to the Economic Theory of Fertility," 2011 Meeting Papers 1207, Society for Economic Dynamics.
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  34. James Heckman & Pedro Carneiro, 2003. "Human Capital Policy," NBER Working Papers 9495, National Bureau of Economic Research, Inc.
  35. Schoellman, Todd, 2008. "The Causes and Consequences of Cross-Country Differences in Schooling Attainment," MPRA Paper 9243, University Library of Munich, Germany.
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  37. Ferreira, Pedro Cavalcanti Gomes & Pessoa, Samuel de Abreu, 2003. "The Costs of Education, Longevity and the Poverty of Nations," Economics Working Papers (Ensaios Economicos da EPGE) 472, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  38. Larry E. Jones & Alice Schoonbroodt & Michèle Tertilt, 2010. "Fertility Theories: Can They Explain the Negative Fertility-Income Relationship?," NBER Chapters, in: Demography and the Economy, pages 43-100 National Bureau of Economic Research, Inc.
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Citations

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Cited by:
  1. Lance Lochner & Alexander Monge-Naranjo, 2012. "Credit Constraints in Education," Annual Review of Economics, Annual Reviews, vol. 4(1), pages 225-256, 07.
  2. Diego Restuccia & Guillaume Vandenbroucke, 2014. "Explaining Educational Attainment across Countries and over Time," Working Papers tecipa-507, University of Toronto, Department of Economics.
  3. Cordoba, Juan Carlos & Ripoll, Marla, 2012. "Barro-Becker with Credit Frictions," Staff General Research Papers 35532, Iowa State University, Department of Economics.
  4. German Cubas & B. Ravikumar & Gustavo Ventura, 2013. "Talent, labor quality, and economic development," Working Papers 2013-027, Federal Reserve Bank of St. Louis.

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