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Optimal education subsidy and taxes in an endogenous growth model with human capital

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  • MARCHAND, Maurice
  • MICHEL, Philippe
  • PADDISON, Oliver
  • PESTIEAU, Pierre

Abstract

This paper considers a three-overlapping-generations model of endogeneous growth wherein human capital is the engine of growth. It first contrasts the laissez-faire and the optimality solutions. Then it discusses alternative sets of tax-transfer instruments that allow for decentralization of the social optimum.

Suggested Citation

  • MARCHAND, Maurice & MICHEL, Philippe & PADDISON, Oliver & PESTIEAU, Pierre, 2003. "Optimal education subsidy and taxes in an endogenous growth model with human capital," LIDAM Discussion Papers CORE 2003019, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:2003019
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp2003.html
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    References listed on IDEAS

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    1. de la Croix,David & Michel,Philippe, 2002. "A Theory of Economic Growth," Cambridge Books, Cambridge University Press, number 9780521001151.
    2. Docquier, Frederic & Michel, Philippe, 1999. " Education Subsidies, Social Security and Growth: The Implications of a Demographic Shock," Scandinavian Journal of Economics, Wiley Blackwell, vol. 101(3), pages 425-440, September.
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