The effects of compulsory schooling on growth, income distribution and welfare

Research output: Contribution to journalArticlepeer-review

Abstract

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.

Original languageEnglish
Pages (from-to)339-359
Number of pages21
JournalJournal of Public Economics
Volume54
Issue number3
DOIs
StatePublished - Jul 1994

Fingerprint

Dive into the research topics of 'The effects of compulsory schooling on growth, income distribution and welfare'. Together they form a unique fingerprint.

Cite this