کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
970123 1479480 2009 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Optimal policy and the risk properties of human capital reconsidered
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Optimal policy and the risk properties of human capital reconsidered
چکیده انگلیسی

This paper considers how optimal education and tax policy depends on the risk properties of human capital. A key feature of human capital investments is whether they increase or decrease wage risk. In a benchmark model it is shown that this feature alone determines whether a constrained optimal allocation should be characterized by a positive or a negative education premium. In the same model a positive intertemporal wedge is optimal. The robustness of these results is explored in two generalizations: nonobservability of education and nonobservability of consumption. Finally, policies that implement the constrained efficient allocations are considered.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Public Economics - Volume 93, Issues 9–10, October 2009, Pages 1017–1026
نویسندگان
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