From inside the book
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Page 12
... initial income inequality is . Even when altruism toward children is weak enough public education reduces the median agent's welfare unless initial " When income ... income inequality is sufficiently high . Since per capita income 12.
... initial income inequality is . Even when altruism toward children is weak enough public education reduces the median agent's welfare unless initial " When income ... income inequality is sufficiently high . Since per capita income 12.
Page 13
Jie Zhang. income inequality is sufficiently high . Since per capita income converges under public education , the ... initial income inequality is higher . - The net effect on the median agent's welfare depends on which impact dominates ...
Jie Zhang. income inequality is sufficiently high . Since per capita income converges under public education , the ... initial income inequality is higher . - The net effect on the median agent's welfare depends on which impact dominates ...
Page 16
... initial income inequality . As income converges , democratic societies starting with public education will replace it with subsidized private education.8 VI . Concluding Remarks This paper has shown that subsidizing private education ...
... initial income inequality . As income converges , democratic societies starting with public education will replace it with subsidized private education.8 VI . Concluding Remarks This paper has shown that subsidizing private education ...
Common terms and phrases
agents with income average human capital child education compulsory schooling consumption discount factor distributional effect Eckstein and Zilcha education and public education reduces income education to public educational spending educational subsidies endogenous growth model envelope theorem Equations F₁ finite number fraction of income future periods Glomm and Ravikumar growth and income growth Jie Zhang growth rate H₁ H₁+1 imply income below average income distribution inequality is high inequality is sufficiently initial income inequality invested in child investments in education investments in human Lewis Evans majority voting median agent median agent's welfare number of periods old agent maximizing Optimal public investments optimal tax rate parents physical capital prefer public education prefer subsidizing private provide public education public education reduces public educational policy Ravikumar 1992 reduces income inequality ẞ is large subsidized private education subsidy rate Tamura tax effect UNESCO unless initial income utility function Zealand