| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5704 |
| DP5704 Optimal Choice of Characteristics for a Non-Excludable Good | |
| Isabelle Brocas | |
| 发表日期 | 2006-05-30 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | Empirical evidence suggests that parents with higher levels of education generally also attach a higher importance to the education of their children. This implies an intergenerational chain transmitting the attitude towards the formation of human capital from one generation to the next. We incorporate this intergenerational chain into an OLG-model with endogenous human capital formation. In absence of any state intervention such an economy might be characterized by multiple steady states. A temporary public investment into human capital formation is then needed for a transition from a steady state with low human capital levels to one with a higher human capital level. Furthermore, it can be shown that even the best steady state is suboptimal when the human capital is privately provided. This inefficiency can be overcome by a permanent public subsidy for education. |
| 主题 | Public Economics |
| 关键词 | Education subsidy Human capital formation Indirect reciprocity |
| URL | https://cepr.org/publications/dp5704 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534547 |
| 推荐引用方式 GB/T 7714 | Isabelle Brocas. DP5704 Optimal Choice of Characteristics for a Non-Excludable Good. 2006. |
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