Education and social returns an optimal policy
Abstracthis paper is a direct extension of the paper of Jones (2007). This author presents a simple Mincerian approach to endogenizing schooling time in market economy. His specification is closest to that in Mincer (1958) which does not take into account of social benefits of education. Our short note extends his paper on the social returns to accumulation of human capital, with particular emphasis on the social returns to education which are given by the sum of the private and external marginal benefits of a unit of human capital. In other words, we study the problem of human capital externalities which comes from social interactions.We propose a policy of decentralization of the optimal education.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 38860.
Date of creation: 2012
Date of revision:
Education; Externalities; Social returns; Political economy ; taxation;
Find related papers by JEL classification:
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
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