Endogenous Growth and Parental Funding of Education in an OLG Model with a Fixed Factor
AbstractThis paper examines the stationary state income level and income growth in an overlapping generations (OLG) model in which production uses three inputs: physical capital, human capital and land. The accumulation of human capital relies on parental funding of education and the past aggregate human capital stock. Four cases exhibiting various possible specifications of returns to scale in output and human capital technologies are studied and compared.
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Bibliographic InfoPaper provided by Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège in its series CREPP Working Papers with number 1003.
Date of creation: 2010
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-08-14 (All new papers)
- NEP-DGE-2010-08-14 (Dynamic General Equilibrium)
- NEP-EDU-2010-08-14 (Education)
- NEP-FDG-2010-08-14 (Financial Development & Growth)
- NEP-HRM-2010-08-14 (Human Capital & Human Resource Management)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Education Funding and Regional Convergence,"
Discussion Papers (IRES - Institut de Recherches Economiques et Sociales)
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The Quarterly Journal of Economics,
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- Mulligan, C.B. & Sala-i-Martin, X., 1992. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," Papers 651, Yale - Economic Growth Center.
- de la Croix,David & Michel,Philippe, 2002.
"A Theory of Economic Growth,"
Cambridge University Press, number 9780521806428.
- 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 818-34, August.
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