Education private and social returns an optimal taxation policy
AbstractThis 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 the social benefits of education. Our 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 57190.
Date of creation: 08 Jul 2014
Date of revision:
Education; Externalities; Social returns; Political economy; Taxation;
Find related papers by JEL classification:
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
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