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Endogenous Growth and Parental Funding of Education in an OLG Model with a Fixed Factor

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  • Lionel Artige

Abstract

This paper examines the stationary state income level and income growth in an overlapping generations (OLG) model in which production uses three inputs: physical capital, human capital and land. The accumulation of human capital relies on parental funding of education and the past aggregate human capital stock. Four cases exhibiting various possible specifications of returns to scale in output and human capital technologies are studied and compared.

Suggested Citation

  • Lionel Artige, 2010. "Endogenous Growth and Parental Funding of Education in an OLG Model with a Fixed Factor," CREPP Working Papers 1003, Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège.
  • Handle: RePEc:rpp:wpaper:1003
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    File URL: http://www2.ulg.ac.be/crepp/papers/crepp-wp201003.pdf
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    References listed on IDEAS

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    1. Philippe Monfort & David de la Croix, 2000. "Education funding and regional convergence," Journal of Population Economics, Springer;European Society for Population Economics, vol. 13(3), pages 403-424.
    2. Abel, Andrew B & Warshawsky, Mark, 1988. "Specification of the Joy of Giving: Insights from Altruism," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 145-149, February.
    3. de la Croix,David & Michel,Philippe, 2002. "A Theory of Economic Growth," Cambridge Books, Cambridge University Press, number 9780521001151, October.
    4. Casey B. Mulligan & Xavier Sala-i-Martin, 1993. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 739-773.
    5. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 818-834, August.
    6. Antoine d'Autume & Philippe Michel, 1994. "Éducation et croissance," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00430107, HAL.
    7. Andreoni, James, 1989. "Giving with Impure Altruism: Applications to Charity and Ricardian Equivalence," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1447-1458, December.
    8. Lionel Artige, 2010. "Endogenous Growth in an OLG Model with a Fixed Factor," CREPP Working Papers 1002, Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège.
    9. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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