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Education and social returns an optimal policy

  • Jellal, Mohamed
  • Bouzahzah, Mohamed

his paper is a direct extension of the paper of Jones (2007). This author presents a simple Mincerian approach to endogenizing schooling time in market economy. His specification is closest to that in Mincer (1958) which does not take into account of social benefits of education. Our short note extends his paper on the social returns to accumulation of human capital, with particular emphasis on the social returns to education which are given by the sum of the private and external marginal benefits of a unit of human capital. In other words, we study the problem of human capital externalities which comes from social interactions.We propose a policy of decentralization of the optimal education.

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File URL: http://mpra.ub.uni-muenchen.de/38860/1/MPRA_paper_38860.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 38860.

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Date of creation: 2012
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Handle: RePEc:pra:mprapa:38860
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  1. Caselli, Francesco & Feyrer, James, 2005. "The Marginal Product of Capital," CEPR Discussion Papers 5203, C.E.P.R. Discussion Papers.
  2. Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66, pages 281.
  3. Rauch James E., 1993. "Productivity Gains from Geographic Concentration of Human Capital: Evidence from the Cities," Journal of Urban Economics, Elsevier, vol. 34(3), pages 380-400, November.
  4. Enrico Moretti, 2004. "Workers' Education, Spillovers, and Productivity: Evidence from Plant-Level Production Functions," American Economic Review, American Economic Association, vol. 94(3), pages 656-690, June.
  5. Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75, pages 352.
  6. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output Per Worker Than Others?," The Quarterly Journal of Economics, MIT Press, vol. 114(1), pages 83-116, February.
  7. Jellal, Mohamed & Bouzahzah, Mohamed, 2012. "Croyances culturelles éducation et croissance
    [Cultural beliefs education and growth]
    ," MPRA Paper 38763, University Library of Munich, Germany.
  8. Ananth Seshadri & Rodolfo Manuelli, 2005. "Human Capital and the Wealth of Nations," 2005 Meeting Papers 56, Society for Economic Dynamics.
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