Endogenous growth and welfare effects of education subsidies and intergenerational transfers
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- 作者：Elena Del Reya ; elena.delrey@udg.edu" class="auth_mail" title="E-mail the corresponding author ; Miguel-Angel Lopez-Garciab ; miguelangel.lopez@uab.es" class="auth_mail" title="E-mail the corresponding author
- 关键词：Endogenous growth ; Human capital ; Intergenerational transfers ; Education policy
- 刊名：Economic Modelling
- 出版年：2016
- 出版时间：January 2016
- 年：2016
- 卷：52
- 期：part_PB
- 页码：531-539
- 全文大小：374 K
文摘
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We study the welfare effects of education subsidies and pensions in an OLG model with physical and human capital.
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Pay-as-you-go social security may increase welfare even if the growth rate of the economy is less than the interest rate.
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Education subsidies have ambiguous effects in general because they involve income as well as price effects.
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We identify non-monotonicities in the welfare effects of modifying the tax parameters that are absent in exogenous growth models.