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Education supply, economic growth and the dynamic of skills

Listed author(s):
  • Vincent BARTHELEMY

    (GREQAM, Université de la Méditerranée)

  • Philippe MICHEL

    (IUF, GREQAM, Université de la Méditerranée and CORE, Louvain-la-Neuve)

This paper examines the dynamics of the skill supply and its incidence on economic growth in the presence of education policies. When there are indivisibilities in the financing of human capital, small differences in the initial distribution of skills may greatly affect the stationary distribution : the economy may end up in a "low skill trap", or in a high skill equilibrium. The model implies that for some ranges of initial distributions there will be intergenerational immobility. Finally, cross-country différences in long-term macroeconomic adjustment to education policies may be attributed, among other factors, to the existence of a congestion effect in the education System.

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Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 2003022.

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Length: 22
Date of creation: 01 Jun 2003
Handle: RePEc:ctl:louvre:2003022
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