Optimal education in an altruistic framework: the role of the age structure of population
AbstractThe age structure of its population affects an economy in two ways. On the one hand the accumulation of human capital, that is education, implies the sacrifice of current labour which size depends on that of the cohorts in education. Further, since ageing affects the abilities to work and acquire new skills the stock of these abilities depends on the age structure of the population. In this paper a representative extended family maximises an intertemporal utility function by allocating the time of its members between (current) labour and schooling (future labour). It is shown that though a lower fertility and consequently a lower proportion of the young leads to higher optimal education, this is not always sufficient to counterbalance the negative effects of the aged labour force on per capita output.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Economics Division, School of Social Sciences, University of Southampton in its series Discussion Paper Series In Economics And Econometrics with number 9904.
Date of creation: 01 Jan 1999
Date of revision:
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Thorn).
If references are entirely missing, you can add them using this form.