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Author : Malin Bergman
Publisher :
ISBN 13 : 9789172586215
Total Pages : 100 pages
Book Rating : 4.5/5 (862 download)
Download or read book Essays on Human Capital and Wage Formation written by Malin Bergman and published by . This book was released on 2003 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Xiaoyan Chen Youderian
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (86 download)
Download or read book Three Essays on Human Capital written by Xiaoyan Chen Youderian and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The first essay considers how the timing of government education spending influences the intergenerational persistence of income. We build a life-cycle model where human capital is accumulated in early and late childhood. Both families and the government can increase the human capital of young agents by investing in education at each stage of childhood. Ability in each dynasty follows a stochastic process. Different abilities and resultant spending histories generate a stochastic steady state distribution of income. We calibrate our model to match aggregate statistics in terms of education expenditures, income persistence and inequality. We show that increasing government spending in early childhood education is effective in lowering intergenerational earnings elasticity. An increase in government funding of early childhood education equivalent to 0.8 percent of GDP reduces income persistence by 8.4 percent. We find that this relatively large effect is due to the weakening relationship between family income and education investment. Since this link is already weak in late childhood, allocating more public resources to late childhood education does not improve the intergenerational mobility of economic status. Furthermore, focusing more on late childhood may raise intergenerational persistence by amplifying the gap in human capital developed in early childhood. The second essay considers parental time investment in early childhood as an education input and explores the impact of early education policies on labor supply and human capital. I develop a five-period overlapping generations model where human capital formation is a multi-stage process. An agent's human capital is accumulated through early and late childhood. Parents make income and time allocation decisions in response to government expenditures and parental leave policies. The model is calibrated to the U.S. economy so that the generated data matches the Gini index and parental participation in education expenditures. The general equilibrium environment shows that subsidizing private education spending and adopting paid parental leave are both effective at increasing human capital. These two policies give parents incentives to increase physical and time investment, respectively. Labor supply decreases due to the introduction of paid parental leave as intended. In addition, low-wage earners are most responsive to parental leave by working less and spending more time with children. The third essay is on the motherhood wage penalty. There is substantial evidence that women with children bear a wage penalty of 5 to 10 percent due to their motherhood status. This wage gap is usually estimated by comparing the wages of working mothers to childless women after controlling for human capital and individual characteristics. This method runs into the problem of selection bias by excluding non-working women. This paper addresses the issue in two ways. First, I develop a simple model of fertility and labor participation decisions to examine the relationships among fertility, employment, and wages. The model implies that mothers face different reservation wages due to variance in preference over child care, while non-mothers face the same reservation wage. Thus, a mother with a relatively high wage may choose not to work because of her strong preference for time with children. In contrast, a childless woman who is not working must face a relatively low wage. For this reason, empirical analysis that focuses only on employed women may result in a biased estimate of the motherhood wage penalty. Second, to test the predictions of the model, I use 2004-2009 data from the 1997 National Longitudinal Survey of Youth (NLSY97) and include non-working women in the two-stage Heckman selection model. The empirical results from OLS and the fixed effects model are consistent with the findings in previous studies. However, the child penalty becomes smaller and insignificant after non-working women are included. It implies that the observed wage gap in the labor market appears to overstate the child wage penalty due to the sample selection bias.
Author : Alejandro Nakab
Publisher :
ISBN 13 :
Total Pages : 178 pages
Book Rating : 4.:/5 (126 download)
Download or read book Essays on Workers' Human Capital Accumulation and Wage Experience Profiles written by Alejandro Nakab and published by . This book was released on 2021 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters. Chapter 1 and Chapter 2 jointly offer an explanation for why workers in richer countries have faster rates of wage growth over their lifetimes than workers in poorer countries. We propose that workers in richer economies receive more firm-provided training. In Chapter 1, we document two main facts: the share of workers who receive firm-provided training increases with development, and that this is a key determinant of worker human capital investments. In Chapter 2 we build a general equilibrium search model with firm-training investments and frictional labor markets. Our model suggests firm-training accounts for a large share of the cross-country wage growth differences. We find that self-employment is a key factor explaining the lack of training in the poorest economies, whereas labor market frictions are key to explaining training differences within firms as countries develop. Finally, our model predicts considerable inefficiencies in human capital investments and sizeable aggregate gains from training subsidies to firms, which may be particularly desirable in poor countries where economic environments disincentivize training. Chapter 3 studies how exporting shapes experience-wage profiles. Using detailed Brazilian employer-employee and customs data, we document that workers' experience-wage profiles are steeper in exporters than in non-exporters. Aside from self-selection of firms with higher returns to experience into exporting, we show that workers' experience-wage profiles are steeper when firms export to industrialized destinations. We propose that this result is likely driven by faster human capital accumulation of workers in firms that export to advanced economies. To support our preferred hypothesis, we use the World Bank Enterprise Surveys and document that exporters are more likely to train workers than non-exporters, especially when they adopt foreign technology.
Author : Jacob Mincer
Publisher : Edward Elgar Publishing
ISBN 13 : 9781782541554
Total Pages : 456 pages
Book Rating : 4.5/5 (415 download)
Download or read book Studies in Human Capital written by Jacob Mincer and published by Edward Elgar Publishing. This book was released on 1993-01-01 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The books should. . . . be bought by every university library. The research reported here is important, the exposition is lucid, the sequencing of chapters is sensible and the retrospective aspect of the volumes provides a fascinating insight into the working methods of one of the great economists of our time.' - Geraint Johnes, International Journal of Manpower Studies in Human Capital, the first volume of Jacob Mincer's essays to be published in this series, assesses the impact of education and job training on wage growth. It offers an authoritative study of the effects of human capital investments on labor turnover and the impact of technological change on human capital formation.
Author : Alexander Sergeevich Ugarov
Publisher :
ISBN 13 :
Total Pages : 282 pages
Book Rating : 4.:/5 (116 download)
Download or read book Essays on Human Capital Formation in Developing Countries written by Alexander Sergeevich Ugarov and published by . This book was released on 2019 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Differences in human capital explain approximately one-half of the productivity variation across countries. Therefore, we need to understand drivers of human capital accumulation in order to design successful development policies. My dissertation studies formation and use of human capital with emphasis on its less tangible forms, including skills, abilities and know-how. The first chapter of my dissertation explores the effects of occupational and educational barriers on human capital stock and aggregate productivity. I find that students' academic skills have very small impact on occupational choice in most developing countries. This finding suggests a higher incidence of occupational barriers in developing countries. I evaluate the productivity losses resulting from occupational barriers by calibrating a general equilibrium model of occupational choice. According to my estimation, developing countries can increase their GDP by up to twenty percent by reducing the barriers to the level of a benchmark country (US). In the second chapter of my dissertation, I study the effects of economic growth on education quality. Several models of human capital accumulation predict that incomes have a positive causal effect on human capital for given levels of education by increasing the consumption of educational goods. The paper tests this prediction by using a within country variation in incomes per-capita across different cohorts of US immigrants. Wages of US migrants conditional on years of education serve as a measure of education quality. I find that average domestic incomes experienced by migrants in age from zero to twenty years have a significant positive effect on their future earnings in the US. The third chapter studies the effects of employee-driven technology spillovers on technology adoption. It challenges the theoretical result of Franco and Filson (2006) by assuming that workers are risk averse and that the number of competitors is finite. In this more realistic scenario spillovers significantly reduce payoffs from adopting advanced technologies.
Author : Ronald A. Wykstra
Publisher :
ISBN 13 :
Total Pages : 536 pages
Book Rating : 4.3/5 (91 download)
Download or read book Human Capital Formation and Manpower Development written by Ronald A. Wykstra and published by . This book was released on 1971 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: USA. Compilation of essays comprising an economic analysis of human resources development, human capital formation and human resources planning and the role thereof in economic growth - covers the purpose and nature of cost benefit analysis of investment in education (incl. Higher education) and in vocational training, retraining and health, the impact of migration, wages discrimination against low income minority groups, work experience programmes, educational planning aspects, etc. Bibliography and diagrams.
Author : Chang Gyu Kwag
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (774 download)
Download or read book Human Capital, Economic Growth, and Income Distribution: Three Essays on Human Capital written by Chang Gyu Kwag and published by . This book was released on 1991 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay one is concerned with how and why an individual invests in human capital and how tax policy affects investment in human capital. We examine optimal investment in human capital and the effect of tax policy on human capital formation, and test several hypotheses derived from the theory using U.S. time-series data. Investment in human capital in terms of college enrollment rates is positively related to family income, rate of return to human capital, and unemployment rates, while it is negatively related to educational cost, and rate of return to physical capital. In addition, the average income tax rates show a negative effect on college enrollment rates. Essay two discusses human capital and economic growth. We first investigate the elasticities of substitution among inputs using the nested constant elasticity of substitution production function to focus on the so-called capital-skill complementarity hypothesis. We here compare two models: one is a model with human capital and raw labor, and the other is a model with higher skilled labor and lower skilled labor. In both models, the elasticities of substitution among inputs are very low, but the complementarity hypothesis is still weakly confirmed. Human capital turns out to be essential in achieving medium-term economic growth empirically. We also demonstrate the key role of human capital in the long-term steady state within the context of the endogenous growth model. Essay three considers the role of human capital on income distribution. Using the nested CES production function, we first derive factor shares, and then examine the relationship between functional and personal income distribution. An increase in share of labor income reduces overall income inequality, while an increase in share of transfer income has a negative effect on income distribution. Human capital, especially primary and secondary level of human capital stock, is a crucial factor in reducing income inequality. Finally, this study develops and presents new estimates of human capital stock in the United States, as well as annual earnings, and labor force by education level for the period 1947-1989. Data shows that the growth rate of GNP is very closely related to that of human capital stock. (Abstract shortened with permission of author.).
Author : Wan-Jung Cheng
Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.:/5 (992 download)
Download or read book Essays on Development, Growth, and Human Capital written by Wan-Jung Cheng and published by . This book was released on 2017 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 proposes a new perspective to explain job polarization over the past few decades. Consisting of employment and wage polarization, job polarization is a widely documented phenomenon that involves the decline in both the employment shares and relative wages of middle-skill occupations with respect to high- and low-skill occupations. I present empirical evidence and build a task-based model demonstrating that job polarization stems from the interaction of the decrease in the relative price of capital goods, heterogeneity in job task production, and the complementarity of job tasks in final goods production. First, I construct a measure of occupation-level capital intensities and document that the tasks of middle-skill workers tend to be more capital intensive. Second, I build a task-based model with two goods sectors and three job tasks, where the job task production differs in capital intensity and how a worker's skill is utilized. The model shows that when there is a decrease in the price of capital goods, employment shifts away from capital-intensive tasks, and the relative wages are driven down, implying that decreasing price of capital goods predicts job polarization. A quantitative analysis suggests that the model can account for approximately one-third to one-half of the employment polarization and approximately half of the upper tail of the wage polarization in the U.S. between 1980 and 2010. Chapter 2 studies the endogenous formation of economic policies and its interplay with political institutions. Both the degree and the content of industrial policies are dispersed across countries. Some countries have active industrial policies while some do not. Among those with active industrial policies, some tend to target large conglomerates, while others target small and medium-sized enterprises (SMEs). This paper studies how the industrial policy in an economy is endogenously determined under a political economy framework with lobbying. Two political parties compete for votes in the election; the one that takes office will decide the industrial policy. The two parties announce policy platforms prior to the election, and voters make decisions based on their expected welfare but may be swayed by election campaigns depending on their political awareness. The campaign is financed by political donations, and its effectiveness is determined by the party's influence on mass media. Contingent on the political environment, the model can capture three major types of policy schemes: no active industrial policies, active pro-conglomerates policies, and active pro-SMEs policies. Chapter 3 studies the influence of employers' quality on growth when talents are imperfect information. I build an innovation choice model that differentiates two types of innovations: incremental and radical innovations; the former is a productivity improvement over an existing product line, and the latter, the construction of a new product line with superior productivity. The arrival rate of successful innovations depends on worker's human capital, while innovation choices are made by managers. Worker's human capital is imperfect information to managers--only high-type managers can distinguish the necessary human capital for radical innovations. The mass of high-type managers thus determines the distribution of innovation implementation and affects individuals' incentives to invest in human capital. Since incremental innovations are subject to diminishing returns while radical innovations create space for future incremental innovations, a society lacking consistent inflow of high-type managers will suffer from slower growth in the long run.
Author : Florian Hoffmann
Publisher :
ISBN 13 : 9780494778210
Total Pages : pages
Book Rating : 4.7/5 (782 download)
Download or read book Essays on Human Capital, Wage Dispersion and Worker Mobility written by Florian Hoffmann and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Melvin Vooren
Publisher :
ISBN 13 : 9789083045177
Total Pages : 189 pages
Book Rating : 4.0/5 (451 download)
Download or read book Essays on Human Capital Formation and Active Labor Market Policies written by Melvin Vooren and published by . This book was released on 2022 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rongsheng Tang
Publisher :
ISBN 13 :
Total Pages : 130 pages
Book Rating : 4.:/5 (993 download)
Download or read book Essays on Human Capital, Inequality and Development written by Rongsheng Tang and published by . This book was released on 2017 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation has three chapters. In this first chapter, I study the wage inequality. By decomposing residual wage inequality for the highly educated, I find that the within-job component is the main contributor to both the level and increase of wage inequality from 1990 to 2000. To explain this fact, I propose a model that allows within-job wage inequality to be influenced by performance-pay incidence and job fitness. Both factors were found to be correlated with within- job wage inequality. Performance pay amplifies ability dispersion through self-selection and work incentives; job fitness causes wage inequality even among individuals with the same ability level, and the expected job fitness affects the motive for the performance pay. I calibrate the model to the US economy in 1990 and quantify the importance of these two factors for wage inequality. The model explains around 71.5% of residual wage inequality for the high skill group in 2000. The job-fitness channel explains 18.8% and performance-pay channel explains 34.1% of the increase in wage inequality. In the second chapter, I study the Chinese economy. About four decades ago, the agricultural sector in China was characterized by a Dual Track System (DTS) which featured the coexistence of a planned and market economy. Under the DTS, farmers were obligated to sell agricultural products to the government at a given price before selling the remainders to market. Urban workers and enterprises enjoyed quota benefits that allowed them to buy agricultural products at a lower price from the government. In this paper, I build a model to quantitatively analyze DTS's impact on China's transition between 1978 and 1992. Within the system, procurement requirements influence the occupational choice of rural workers, and quota benefits impact firms' entry decisions. Misallocation occurs when people with a comparative advantage in farming choose to work in rural enterprises in order to avoid procurement requirements and when urban firms with low productivity survive as a result of lower input prices. Quantitative analysis shows that compared to a market economy, the DTS has decreased rural and urban enterprises' output by 6% and 37% respectively. Comparatively, a policy with the constant procurement would have decreased the output by more than 80%. The third chapter is about education mismatch. In order to better understand education mismatch, I build a model with three underlying channels--preference, promotion and search friction--and quantify their effects on residual wage inequality for the highly educated. Education mismatch is measured by the relatedness between a worker's field of study of the highest degree and the current occupation. In survey data, these three factors attributed 70% of education mismatch. Workers who are mismatched because of preference change or search friction are usually paid relatively lower than matched workers. However, the pay for the mismatched workers due to promotion opportunities is actually higher than the matched group when controlling for demo- graphic characteristics. These factors affect the wage inequality through the employment decision. Quantitatively, I found that the promotion channel has a large contribution to the increase of wage inequality, and the total contribution of preference and search friction is around 28%.
Author : Rizwana Alamgir-Arif
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (871 download)
Download or read book Three Essays on Human Capital, Child Care and Growth, and on Mobility written by Rizwana Alamgir-Arif and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contributes to the fields of Public Economics and Development Economics by studying human capital formation under three scenarios. Each scenario is represented in an individual paper between Chapters 2 to 4 of this thesis. Chapter 2 examines the effect of child care financing, through human capital formation, on growth and welfare. There is an extensive literature on the benefits of child care affordability on labour market participation. The overall inference that can be drawn is that the availability and affordability of appropriate child care may enhance parental time spent outside the home in furthering their economic opportunities. In another front, the endogenous growth literature exemplifies the merits of subsidizing human capital in generating growth. Again, other contributions demonstrate the negative implications of taxes on the returns from human capital on long run growth and welfare. This paper assesses the long run welfare implications of child care subsidies financed by proportional income taxes when human capital serves as the engine of growth. More specifically, using an overlapping-generations framework (OLG) with endogenous labour choice, we study the implications of a distortionary wage income tax on growth and welfare. When the revenues from proportional income taxes are channelled towards improving economic opportunities for both work and schooling investments in the form of child care subsidies, long run physical and human capital stock may increase. A higher level of growth may ensue leading to higher welfare. Chapter 3 answers the question of how child care subsidization works in the interest of skill formation, and specifically, whether child care subsidization policies can work to the effect of human capital subsidies. Ample studies have highlighted the significance of early childhood learning through child care in determining the child's longer-term outcomes. The general conclusion has been that the quality of life for a child, higher earnings during later life, as well as the contributions the child makes to society as an adult can be traced back to exposures during the first few years of life. Early childhood education obtained through child care has been found to play a pivotal role in the human capital base amongst children that can benefit them in the long run. Based on this premise, the paper develops a simple Overlapping Generations Model (OLG) to find out the implications of early learning on future investments in human capital. It is shown that higher costs of child care will reduce skill investments of parents. Also, for some positive child care cost, higher human capital obtained through early childhood education can induce further skill investments amongst individuals with a higher willingness to substitute consumption intertemporally. Finally, intervention that can internalize the intra-generational human capital externalities arising from parental time spent outside the home - for which care/early learning is required to be purchased for the child - can unambiguously lead to higher skill investments by all individuals. Chapter 3 therefore proposes policy intervention, such as child care subsidization, as the effect of such will be akin to a human capital subsidy. The objective of Chapter 4 is to understand the implications of inter-regional mobility on higher educational investments of individuals and to study in detail the impact of mobility on government spending for education under two particular scenarios --one in which human capital externalities are non-localized and spill over to other regions (e.g. in the form of R & D), and another in which the externalities are localized and remain within the region. It is shown that mobility enhances private investments in education, and all else equal, welfare should be higher with increased migration. The impacts on government educational expenditures are studied and some policy implications are drawn. In general, with non-localized externalities, all public expenditures decline under full-migration. Finally under localized externalities, the paper finds that governments will increase their financing of education to increasingly mobile individuals only when agglomeration benefits outweigh congestion costs from increases in regional population.
Author : Cody Taylor Orr
Publisher :
ISBN 13 :
Total Pages : 145 pages
Book Rating : 4.7/5 (282 download)
Download or read book Three Essays on Human Capital and Labor Supply written by Cody Taylor Orr and published by . This book was released on 2021 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation contains three chapters that study individuals' willingness to work, factors that influence their human capital development, and the interaction between their human capital investment decisions and labor supply.Chapter one examines how college students choose their credit hour enrollment, labor supply, and borrowing, paying particular attention to the role of wages, financial resources and beliefs. To formalize these relationships, I construct a dynamic structural model where students choose their credit hours, work hours, and borrowing to maximize lifetime utility. I collect data from two sources to estimate the model: (1) a unique survey of Michigan State undergraduates eliciting their employment history, family financial support, beliefs about the returns to studying and beliefs about earning a high GPA, and (2) administrative data from the University. Estimates of the model suggest that students' credit hour decision is inelastic with respect to changes in financial aid, tuition, beliefs, or wages. Students' labor supply and borrowing decisions are responsive to changes in wages, and for a subset of students, changes in beliefs. I also conduct two counterfactual simulations, increasing the minimum wage and making college tuition free, and evaluate how these policy changes affect student decisions and outcomes.The second chapter studies the relationship between the gender composition of a student's peers and two of their non-cognitive factors: sense of belonging and self-worth. Using data from Add Health and exploiting idiosyncratic variation in the share of female peers across grades within schools, I find positive but small effects of a higher share of female peers for male students. I do not find statistically significant effects for female students, but I can rule out large positive effects.The third chapter, jointly written with Todd Elder and Steven J. Haider, estimates how the wage elasticity of labor supply has changed for single and married men and women over the last two decades. The wage elasticity of labor supply is arguably one of the most fundamental parameters in economics, but despite the central role of this parameter, few studies have examined how it has evolved past the early 2000s. We find robust evidence that the labor supply elasticities for all four demographic groups have increased modestly. For women, this finding is a substantial departure from earlier evidence. We also contribute to the literature on the robustness of discrete choice labor supply models by estimating elasticities under a variety of assumptions and specifications. Our estimated trends are remarkably similar across specifications.
Author : Gonzalo A. Castex Hernandez
Publisher :
ISBN 13 :
Total Pages : 198 pages
Book Rating : 4.:/5 (79 download)
Download or read book Essays on Human Capital Formation written by Gonzalo A. Castex Hernandez and published by . This book was released on 2010 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: "I analyze two issues on the efficiency of schooling choice. The first chapter analyzes changes in the distribution of college enrollment rates that occurred between 1980 and 2000. It aims not only to explain the 69% increase in the overall college enrollment rates, but also changes in the distribution of college attendees by their ability and financial status. College attendance increased by 27% less than the overall trend for individuals in the lowest quartile of the joint family income and ability distribution. However, it increased by 12% more than the trend for individuals in the highest quartile. To explain these changes, I construct a quantitative life-cycle model of labor supply and human capital formation. The model is calibrated to match schooling patterns and labor market outcomes for the 1980 and 2000 cohorts. I explicitly model four potential driving forces to explain the observed changes. First, college wage premium increased during the 1980 - 2000 period. This increase had a positive effect on enrollment across all profiles and the largest gain was for the low-ability and low-income groups. Second, there was a merit-oriented reform in distribution of grants which mostly increased college attendance of high-ability students. Third, increase in tuition costs led to reduced attendance across all profiles. This effect was particularly strong for students from low-income families. Fourth, the joint distribution of ability and family income shifted, affecting allocation of grants as well as educational success and expected college wages. This shift had the largest positive effect on students in the center of the ability distribution as they experienced rising incentives to attend college. The second chapter studies the role of college dropout risk premium on returns to education and attendance decisions. Attending college has been considered one of the most profitable investment decisions, as its estimated annualized return ranges from 8% to 13%. However, a large fraction of high school graduates do not enroll in college. Using a simple risk premium approach, I reconcile the observed high average returns to schooling with relatively low attendance rates. A high dropout risk has two important effects on the estimated average returns to college: selection bias and risk premium. Once taking into account dropout risk, a simple calculation of risk premium accounts for 51% of the excess of return to college education. In order to explicitly consider the selection bias, I further explore the dropout risk in a life-cycle model with heterogeneous ability. The risk-premium of college participation accounts for 29% of the excess of returns to college education for high-ability students, and accounts for 27% of the excess return for low-ability students, since they face a larger college dropout risk. Risk averse agents are willing to reduce their return to college in order to avoid the dropout risk. The effect is not uniform across ability levels"--Leaves v-vi.
Author : Dohyoung Kwon
Publisher :
ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (919 download)
Download or read book Essays on Inequality and Human Capital written by Dohyoung Kwon and published by . This book was released on 2015 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: I develop a growth model of human capital accumulation, and show analytically how those factors affect the dynamics of earnings inequality. The calibrated model accounts for 31 percent of the observed differences in earnings inequality between European countries and the US for 2003-07. Differences in returns to education investments and intergenerational earnings persistence are quantitatively important, suggesting the potential role of educational policy in ameliorating rising earnings inequality. Chapter 3, written jointly with Martin Gervais, analyzes the role of endogenous human capital accumulation in shaping optimal fiscal policy within a life-cycle growth model. We show that when investment in human capital is not verifiable---making the tax code incomplete---a non-zero capital income tax becomes optimal in order to alleviate the distortionary effects of the labor income tax on investment in human capital. This is true even if the government has access to a full set of age-dependent labor and capital income taxes. The main result is in sharp contrast to the finding in Jones et al. (1997) that all interest taxes are zero in infinitely-lived agent models with endogenous human capital formation.
Author : Claudia Trentini
Publisher :
ISBN 13 :
Total Pages : 139 pages
Book Rating : 4.:/5 (536 download)
Download or read book Essays on Human Capital Accumulation and Inequality written by Claudia Trentini and published by . This book was released on 2009 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Torsten Santavirta
Publisher :
ISBN 13 : 9789526042817
Total Pages : pages
Book Rating : 4.0/5 (428 download)
Download or read book Essays on Human Capital Development, Wage Dynamics and Religious Paticipation written by Torsten Santavirta and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
