The Importance of Ability
AbstractA model of education where the distribution of innate abilities is the source of heterogeneity is investigated. Public and private education models are investigated and compared. Human capital follows a first order Markov process which is shown to converge to a unique stationary distribution in both education systems. Income distributions are characterised using simulations which suggest positive skewness for both types of education.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 599.
Length: 35 pages
Date of creation: 1997
Date of revision:
Contact details of provider:
Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
Fax: +61 3 8344 6899
Web page: http://www.economics.unimelb.edu.au
More information through EDIRC
EDUCATION ; HUMAN CAPITAL ; INCOME DISTRIBUTION;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
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