Investments into education - Doing as the parents did

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Standard

Investments into education - Doing as the parents did. / Kirchsteiger, Georg; Sebald, Alexander Christopher.

In: European Economic Review, Vol. 54, No. 4, 2010, p. 501-516.

Research output: Contribution to journal › Journal article › Research › peer-review

Harvard

Kirchsteiger, G & Sebald, AC 2010, 'Investments into education - Doing as the parents did', European Economic Review, vol. 54, no. 4, pp. 501-516. https://doi.org/10.1016/j.euroecorev.2009.09.004

APA

Kirchsteiger, G., & Sebald, A. C. (2010). Investments into education - Doing as the parents did. European Economic Review, 54(4), 501-516. https://doi.org/10.1016/j.euroecorev.2009.09.004

Vancouver

Kirchsteiger G, Sebald AC. Investments into education - Doing as the parents did. European Economic Review. 2010;54(4):501-516. https://doi.org/10.1016/j.euroecorev.2009.09.004

Author

Kirchsteiger, Georg ; Sebald, Alexander Christopher. / Investments into education - Doing as the parents did. In: European Economic Review. 2010 ; Vol. 54, No. 4. pp. 501-516.

Bibtex

@article{388a2fc0aeb811df825b000ea68e967b,
title = "Investments into education - Doing as the parents did",
abstract = "Empirical evidence suggests that parents with higher levels of education generally 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 with low or high human capital levels. There are also steady states where the population is permanently divided into different groups with differing human capital and welfare levels. Compulsory schooling is needed to overcome steady states with low human capital and welfare levels. Tax financed education subsidies can lead to further pareto-improvements.",
keywords = "Faculty of Social Sciences, Human capital formation, Education subsidy, Compulsory schooling, Illiterateness trap",
author = "Georg Kirchsteiger and Sebald, {Alexander Christopher}",
note = "JEL classification: H23, H52, I2",
year = "2010",
doi = "10.1016/j.euroecorev.2009.09.004",
language = "English",
volume = "54",
pages = "501--516",
journal = "European Economic Review",
issn = "0014-2921",
publisher = "Elsevier",
number = "4",

}

RIS

TY - JOUR

T1 - Investments into education - Doing as the parents did

AU - Kirchsteiger, Georg

AU - Sebald, Alexander Christopher

N1 - JEL classification: H23, H52, I2

PY - 2010

Y1 - 2010

N2 - Empirical evidence suggests that parents with higher levels of education generally 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 with low or high human capital levels. There are also steady states where the population is permanently divided into different groups with differing human capital and welfare levels. Compulsory schooling is needed to overcome steady states with low human capital and welfare levels. Tax financed education subsidies can lead to further pareto-improvements.

AB - Empirical evidence suggests that parents with higher levels of education generally 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 with low or high human capital levels. There are also steady states where the population is permanently divided into different groups with differing human capital and welfare levels. Compulsory schooling is needed to overcome steady states with low human capital and welfare levels. Tax financed education subsidies can lead to further pareto-improvements.

KW - Faculty of Social Sciences

KW - Human capital formation

KW - Education subsidy

KW - Compulsory schooling

KW - Illiterateness trap

U2 - 10.1016/j.euroecorev.2009.09.004

DO - 10.1016/j.euroecorev.2009.09.004

M3 - Journal article

VL - 54

SP - 501

EP - 516

JO - European Economic Review

JF - European Economic Review

SN - 0014-2921

IS - 4

ER -

ID: 21521483