TY - JOUR
T1 - The effects of compulsory schooling on growth, income distribution and welfare
AU - Eckstein, Zvi
AU - Zilcha, Itzhak
N1 - Funding Information:
Tel-Aviv 69978, Israel. *We are grateful to Jon Eaton for his helpful comments and to our two anonymous referees for their constructive suggestions. We acknowledge financial support from the Horowitz Institute for the Research of Developing Countries and the Foerder Institutes at the Tel-Aviv University. ‘Frederic the Great of Prussia and Maria Theresa of Austria started compulsory elementary education as early as 1763 and 1773, resepctively [Melton (1988)]. In England, compulsory education was imposed by the Elementary Education Act of 1870 [West (1970)].
PY - 1994/7
Y1 - 1994/7
N2 - In this paper we consider an OLG model with productive capital and human capital affecting the quality of labor. In each generation parents invest in their children's education but disregard its external effect on the aggregate production function. Government intervention in providing compulsory schooling increases economic growth (along the equilibrium path), while the intragenerational income distribution becomes more equal. Also, in the long run, the majority of individuals in each generation are better off due to compulsory schooling.
AB - In this paper we consider an OLG model with productive capital and human capital affecting the quality of labor. In each generation parents invest in their children's education but disregard its external effect on the aggregate production function. Government intervention in providing compulsory schooling increases economic growth (along the equilibrium path), while the intragenerational income distribution becomes more equal. Also, in the long run, the majority of individuals in each generation are better off due to compulsory schooling.
UR - http://www.scopus.com/inward/record.url?scp=0001595826&partnerID=8YFLogxK
U2 - 10.1016/0047-2727(94)90040-X
DO - 10.1016/0047-2727(94)90040-X
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AN - SCOPUS:0001595826
SN - 0047-2727
VL - 54
SP - 339
EP - 359
JO - Journal of Public Economics
JF - Journal of Public Economics
IS - 3
ER -
