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On the Role of Job Assignment in a Comparison of Education Systems

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Author Info
Katsuya Takii (Osaka School of International Public Policy (OSIPP),Osaka University)
Ryuichi Tanaka (Tokyo Institute of Technology)

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Abstract

This paper reexamines how differences in systems for financing education influence GDP by highlighting a neglected function of education policy: it affects the magnitude of gains from job assignment. When more productive jobs demand more skill, privately financed education can increase productivity gains from matching between jobs and skill by increasing the availability of highly educated people. This differs from the standard argument that publicly financed education increases the total amount of human capital by equalizing educational opportunities. It is shown that if job opportunities have large variations in productivity, education policy may face a serious efficiency--equity trade-off.

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File URL: http://www.osipp.osaka-u.ac.jp/archives/DP/2009/DP2009E005.pdf
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Publisher Info
Paper provided by Osaka School of International Public Policy, Osaka University in its series OSIPP Discussion Paper with number 09E005.

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Length: 26 pages
Date of creation: Jul 2009
Date of revision:
Handle: RePEc:osp:wpaper:09e005

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Related research
Keywords: Job assignment; Human capital; Education system;

Find related papers by JEL classification:
D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
I22 - Health, Education, and Welfare - - Education - - - Educational Finance
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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References listed on IDEAS
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    Other versions:
  5. 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, vol. 100(4), pages 813-34, August.
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  7. Sattinger, Michael, 1979. "Differential Rents and the Distribution of Earnings," Oxford Economic Papers, Oxford University Press, vol. 31(1), pages 60-71, March. [Downloadable!] (restricted)
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  12. Takii, Katsuya & Tanaka, Ryuichi, 2009. "Does the diversity of human capital increase GDP? A comparison of education systems," Journal of Public Economics, Elsevier, vol. 93(7-8), pages 998-1007, August. [Downloadable!] (restricted)
    Other versions:
  13. Boyan Jovanovic, 2009. "The Technology Cycle and Inequality," Review of Economic Studies, Blackwell Publishing, vol. 76(2), pages 707-729, 04. [Downloadable!] (restricted)
  14. Benabou, Roland, 1996. "Heterogeneity, Stratification, and Growth: Macroeconomic Implications of Community Structure and School Finance," American Economic Review, American Economic Association, vol. 86(3), pages 584-609, June. [Downloadable!] (restricted)
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