Student Loans and the Allocation of Graduate Jobs
In an economy where graduate jobs are allocated by tournament, and some of the potential participants cannot borrow against their expected future earnings, the government can increase efficiency and ex ante equity by redistributing wealth or, if that is not possible, by borrowing wholesale and lending to potential participants. Both policies replace some of the less able rich with some of the more able poor and bring education investments closer to their first-best levels.
|Date of creation:||Jul 2013|
|Date of revision:|
|Contact details of provider:|| Postal: Via Patara, 3, 47921 Rimini (RN)|
Web page: http://www.rcfea.org
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Raquel Fernández & Jordi Gali, 1999. "To Each According to …? Markets, Tournaments, and the Matching Problem with Borrowing Constraints," Review of Economic Studies, Oxford University Press, vol. 66(4), pages 799-824.
- Karla Hoff & Andrew B. Lyon, 1994.
"Non-Leaky Buckets: Optimal Redistributive Taxation and Agency Costs,"
NBER Working Papers
4652, National Bureau of Economic Research, Inc.
- Hoff, Karla & Lyon, Andrew B., 1995. "Non-leaky buckets: Optimal redistributive taxation and agency costs," Journal of Public Economics, Elsevier, vol. 58(3), pages 365-390, November.
- Banks, Jeffrey S. & Sobel, Joel., 1985.
"Equilibrium Selection in Signaling Games,"
565, California Institute of Technology, Division of the Humanities and Social Sciences.
- Michael Peters & Aloysius Siow, 2000.
"Competing Pre-marital Investments,"
peters-00-01, University of Toronto, Department of Economics.
- Alessandro Cigno & Annalisa Luporini, 2003.
"Scholarships or Student Loans? Subsidizing Higher Education in the Presence of Moral Hazard,"
CESifo Working Paper Series
973, CESifo Group Munich.
- Alessandro Cigno & Annalisa Luporini, 2009. "Scholarships or Student Loans? Subsidizing Higher Education in the Presence of Moral Hazard," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 11(1), pages 55-87, 02.
- Robert J. Gary-Bobo & Alain Trannoy, 2008. "Efficient Tuition Fees and Examinations," Journal of the European Economic Association, MIT Press, vol. 6(6), pages 1211-1243, December.
- Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-46, July-Aug..
- Bratti, Massimiliano & McKnight, Abigail & Naylor, Robin & Smith, Jeremy, 2003.
"Higher Education Outcomes, Graduate Employment and University Performance Indicators,"
The Warwick Economics Research Paper Series (TWERPS)
692, University of Warwick, Department of Economics.
- Massimiliano Bratti & Abigail McKnight & Robin Naylor & Jeremy Smith, 2004. "Higher education outcomes, graduate employment and university performance indicators," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 167(3), pages 475-496.
When requesting a correction, please mention this item's handle: RePEc:rim:rimwps:38_13. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marco Savioli)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.