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Universitary Financing and Welfare: A Dynamic Analysis with Heterogeneous Agents and Overlapping Generations

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  • Juan M. Sánchez

Abstract

This paper develops a model in which it is possible to evaluate alternatives of human capital …nancing. The alternative systems under discussion are: total feeing; graduates taxes and uniform taxes (this can be associated to the scheme presently used in the Argentina universitary system). Assessment of the alternatives is performed over welfare, based on the indicators of poverty, equality, equity (justice in the distribution) and the average levels of utility and wealth. Likewise, the functions of welfare presented by Bentham, Rawls, Atkinson, Sen and Kakwani are also considered. The most remarkable results are obtained through the simulation of an economy under three scenarios. In that way, the system of graduates taxation is found to be better for welfare; whereas the system of uniform taxation only can be justi…ed as it maximises the number of students. In addition, an analysis of political economy in this model helps to understand why a system of uniform taxation can be sustainable on the time.

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Bibliographic Info

Paper provided by Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata in its series Department of Economics, Working Papers with number 047.

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Length: 48 pages
Date of creation: Jan 2003
Date of revision:
Handle: RePEc:lap:wpaper:047

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Keywords: Human Capital; Welfare; Overlapping Generation.;

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  1. Maitreesh Ghatak & Massimo Morelli & Tomas Sjoström, 2001. "Credit rationing, wealth inequality, and allocation of talent," ICER Working Papers - Applied Mathematics Series, ICER - International Centre for Economic Research 23-2001, ICER - International Centre for Economic Research.
  2. Galor, Oded & Zeira, Joseph, 1988. "Income Distribution and Macroeconomics," MPRA Paper 51644, University Library of Munich, Germany, revised 01 Sep 1989.
  3. Leonardo Gasparini & Walter Sosa, 2001. "Assessing Aggregate Welfare: Growth and Inequality in Argentina," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 38(113), pages 49-71.
  4. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, Elsevier, vol. 22(1), pages 3-42, July.
  5. Chen, Hung-ju, 2005. "Educational systems, growth and income distribution: a quantitative study," Journal of Development Economics, Elsevier, Elsevier, vol. 76(2), pages 325-353, April.
  6. Elizabeth M. Caucutt & Krishna B. Kumar, 2000. "Higher Education Subsidies and Heterogeneity, A Dynamic Analysis," RCER Working Papers, University of Rochester - Center for Economic Research (RCER) 472, University of Rochester - Center for Economic Research (RCER).
  7. Browning, Martin & Hansen, Lars Peter & Heckman, James J., 1999. "Micro data and general equilibrium models," Handbook of Macroeconomics, Elsevier, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 8, pages 543-633 Elsevier.
  8. Daron Acemoglu, 2000. "Credit Market Imperfections and Persistent Unemployment," NBER Working Papers 7938, National Bureau of Economic Research, Inc.
  9. Christopher Phelan, 2002. "Inequality and fairness," Quarterly Review, Federal Reserve Bank of Minneapolis, Federal Reserve Bank of Minneapolis, issue Spr.
  10. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(4), pages 818-34, August.
  11. Huberto Ennis & Alberto Porto, 2001. "Igualdad de Oportunidades e Ingreso a la Universidad Pública en la Argentina," Department of Economics, Working Papers, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata 030, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
  12. Foster, James & Greer, Joel & Thorbecke, Erik, 1984. "A Class of Decomposable Poverty Measures," Econometrica, Econometric Society, Econometric Society, vol. 52(3), pages 761-66, May.
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