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The Role Of The Education Industry In The U.S. Extended Income Circular Flow

Author

Listed:
  • Maurizio Ciaschini*

    (Department of Economics and Law, University of Macerata)

  • Claudio Socci*

    (Department of Economics and Law, University of Macerata)

  • Lorenzo Toffoli**

    (Department of Economics and Finance, Universita` Cattolica del Sacro Cuore)

Abstract

The aim of this work is to design policies for public and private education systems in the U.S. Such policies are determined by assessing the importance of public and private education as industries. The role of public and private education industries is evaluated both in terms of their capability of being stimulated by, and of stimulating the other industries, the primary factors, and the institutional sectors. The analytic framework suitable to address this problem is a multisectoral model based on the Social Accounting Matrix (SAM) approach. Policy design is based on both traditional multiplier and Macro Multiplier approaches. Policy simulation consists in the evaluation of the short-term multiplier effects of education-oriented policies expressed by shocks on final demand. Observed results show compatibility between targets of generalized output growth in almost all the sector of the economy and of output growth in both public and private education industries.

Suggested Citation

  • Maurizio Ciaschini* & Claudio Socci* & Lorenzo Toffoli**, 2016. "The Role Of The Education Industry In The U.S. Extended Income Circular Flow," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 124(2), pages 161-198.
    • Handle: RePEc:vep:journl:y:2016:v:124:i:2:p:161-198
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    Citations

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    Cited by:

    1. Claudio Socci & Maurizio Ciaschini & Lorenzo Toffoli, 2015. "Education services and reallocation of government expenditure," International Journal of Education Economics and Development, Inderscience Enterprises Ltd, vol. 6(1), pages 38-58.

    More about this item

    Keywords

    Expenditure education; MM approach; SAM; Extended Multisectoral Model;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis

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