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Education Choice, Neoclassical Growth and Class Structure

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Author Info

  • Buly A Cardak

    ()
    (School of Economics, La Trobe University)

Abstract

The evolution of income distribution is studied in a dynamic model of education choice. In this model, both public and private education are available. Public education is financed using a tax rate determined by majority voting. The analysis focuses on neoclassical growth in order to ensure tractability in identifying a steady state. The steady state income distribution is found to be bimodal. Public education offers higher growth to the poor in the transition to the steady state, however public education students converge to the lower mode of the income distribution. Under some conditions, universal public education offers steads state human capital superior to that available to any student in the mixed education model considered, while universal private education unconditionally offers steady state human capital superior to that of the mixed model.

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File URL: http://www.latrobe.edu.au/__data/assets/pdf_file/0020/130880/2001.07.pdf
File Function: First version, 2001.07.pdf
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Bibliographic Info

Paper provided by School of Economics, La Trobe University in its series Working Papers with number 2001.07.

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Length: 14 pages
Date of creation: Aug 2001
Date of revision:
Handle: RePEc:trb:wpaper:2001.07

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Web page: http://www.latrobe.edu.au/economics
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Related research

Keywords: Education Choice; Growth; Income Distribution; Public and Private Education;

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References

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  1. Oded Galor & Joseph Zeira, 2013. "Income Distribution and Macroeconomics," Working Papers 2013-12, Brown University, Department of Economics.
  2. Kaganovich, Michael & Zilcha, Itzhak, 1999. "Education, social security, and growth," Journal of Public Economics, Elsevier, vol. 71(2), pages 289-309, February.
  3. Buly A. Cardak, 2004. "Education Choice, Endogenous Growth and Income Distribution," Economica, London School of Economics and Political Science, vol. 71, pages 57-81, 02.
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Citations

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Cited by:
  1. Buly A. Cardak, 2004. "Education Choice, Endogenous Growth and Income Distribution," Economica, London School of Economics and Political Science, vol. 71, pages 57-81, 02.
  2. Nikos Benos, 2005. "Education Systems, Growth and Welfare," University of Cyprus Working Papers in Economics 5-2005, University of Cyprus Department of Economics.
  3. Growiec, Katarzyna & Growiec, Jakub, 2009. "Social Capital, Trust, and Multiple Equilibria in Economic Performance," MPRA Paper 19518, University Library of Munich, Germany.
  4. John Creedy, 2006. "Education Vouchers: Means Testing Versus Uniformity," Department of Economics - Working Papers Series 978, The University of Melbourne.

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