Educación para los jóvenes y pensiones para los mayores: ¿Existe alguna relación? Evidencia para España
We argue that the public financing of education can be understood as an investment in the human capital of young generations, whose profitability is obtained via pension payments. Similarly, we should understand the social security contributions as the repayment of school transfers received in early life. In a world in which credit markets to finance investments in human capital are missing, the intergenerational transfer flows described before can restore an efficient allocation of resources. For that to be true we should observe an equality between the market rate of interest and the two rates of return implicit in the flow of taxes and transfers supporting public education and public pensions. We test these predictions for Spain. The results are surprisingly good. (Copyright: Fundación Empresa Pública)
Volume (Year): 26 (2002)
Issue (Month): 1 (January)
|Contact details of provider:|| Postal: Investigaciones Economicas Fundación SEPI Quintana, 2 (planta 3) 28008 Madrid Spain|
Web page: http://www.fundacionsepi.es/
|Order Information:|| Web: http://www.fundacionsepi.es/revistas/presentacion.asp Email: |
References listed on IDEAS
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.:
- Gary S. Becker & Kevin M. Murphy, .
"The Family and the State,"
University of Chicago - Population Research Center
87-15, Chicago - Population Research Center.
- Montes Alonso, Ana & Boldrin, Michele, 1998. "Intergenerational transfer institutions public education and public pensions," UC3M Working papers. Economics 6148, Universidad Carlos III de Madrid. Departamento de Economía.
When requesting a correction, please mention this item's handle: RePEc:iec:inveco:v:26:y:2002:i:1:p:145-185. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Isabel Sánchez-Seco)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.