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Education Decisions, Equilibrium Policies and Wages Dispersion

  • Gianluca Violante
  • Giovanni Gallipoli

    ()

    (Economics University College London)

  • Costas Meghir

(they are crowded out). Thus the subsidy strongly acts on the composition of those in education. We find that subsidies made conditional on financial resources are generally preferable to those conditional on ability and large equilibrium effects can be induced by relatively small changes in marginal returns. We also evaluate the effects of changes in the relative burden of labor vis-a-vis capital taxes.

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Paper provided by Society for Economic Dynamics in its series 2005 Meeting Papers with number 522.

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Date of creation: 2005
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Handle: RePEc:red:sed005:522
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  8. Stephen V. Cameron & James J. Heckman, 1998. "Life Cycle Schooling and Dynamic Selection Bias: Models and Evidence for Five Cohorts," NBER Working Papers 6385, National Bureau of Economic Research, Inc.
  9. Willis, Robert J & Rosen, Sherwin, 1979. "Education and Self-Selection," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages S7-36, October.
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  24. Christoph Winter, 2009. "Accounting for the changing role of family income in determining college entry," IEW - Working Papers 402, Institute for Empirical Research in Economics - University of Zurich, revised Dec 2011.
  25. Richard Blundell & Martin Browning & Costas Meghir, 1993. "Consumer demand and the life-cycle allocation of household expenditures," IFS Working Papers W93/11, Institute for Fiscal Studies.
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  27. Laitner, John, 1992. "Random earnings differences, lifetime liquidity constraints, and altruistic intergenerational transfers," Journal of Economic Theory, Elsevier, vol. 58(2), pages 135-170, December.
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  36. repec:mea:meawpa:13267 is not listed on IDEAS
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