Download or read book On a Simple Model of Overlapping Generations with Human Capital written by Hiroyuki Hashimoto and published by . This book was released on 2001* with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simple model with overlapping-generations where finite-lived individuals accumulate human capital not taking the by-productive effect on future generations into account. In such model, the phenomenon of indeterminacy of equilibrium appears. Such indeterminancy does not occur in similar model presented in Hashimoto (1998). The substantial difference between the two models is whether or not individuals' behavior is altruistic. Non-altruism of individuals in overlapping-generations economy implies the lack of boundary condition in appropriate set of optimal conditions. Since it is well known that appropriately defined boundary-value problems have unique solutions, a shortage of boundary conditions implies indetermancy of equilibrium. From this viewpoint we may say that the source of indeterminacy is finite lifetimes of non-altruistic individuals.
Download or read book Optimal Investment in Human Capital in a Simple Overlapping generations Model written by Bengt-Arne Wickström and published by . This book was released on 1990 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Human Capital and Economic Growth in an Overlapping Generations Model written by Binh Tran-Nam and published by . This book was released on 1995 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Human Capital Within a Growth Model of Overlapping Generations written by Gideon Yaniv and published by . This book was released on 1974 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Human Capital in in an Overlapping Generations Economic Growth Model written by Pierre Ninh Van Tu and published by Calgary : Department of Economics, University of Calgary. This book was released on 1994 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Growth and International Trade written by Karl Farmer and published by Springer Nature. This book was released on 2021-04-01 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored. The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored. The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.
Download or read book The Computable Overlapping Generations Model with an Endogenous Growth Mechanism written by Akira Sadahiro and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We developed the Overlapping Generations model based on the endogenous growth theory, incorporating Human Capital Stock and conducted some simulations under the alternative population growth patterns and some sensitivity analysis with respect to some key parameters. The main results are as follows: 1) the endogenously determined growth rate of human capital offsets the negative population growth rates. 2) the individual has an incentive to allocate his/her time into schooling investment for accumulating his/her human capital in the phase of declining population growth. 3) there is a negative correlation between the growth rate of labor supply and human capital.
Download or read book A Theory of Economic Growth written by David de la Croix and published by Cambridge University Press. This book was released on 2002-10-24 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth treatment of the overlapping generations model in economics incorporating production.
Download or read book The Conflating Effects of Education and Financial Competition in an Overlapping Generations Growth Model with Nelson Phelps Human Capital written by Mark A. Roberts and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nelson-Phelps concept of human capital, determining the speed at which a new technology may be implemented, is considered within an AK, overlapping-generations model, where finance firms act as local monopolies in the loan market but as monopsonistic price-takers in the deposit market. Households also vote for taxes earmarked for public investment in education and, thence, the subsequent level of human capital. A concentrated financial market structure, despite directly lowering economic growth, may indirectly raise it through provoking a political economy response of voting for higher taxes for greater levels of Nelson-Phelps human capital.
Download or read book Growth and Human Capital written by Tiago Cavalcanti and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the interactions and dynamics of human capital, growth and inequality by explicitly embedding networks into a standard endogenous growth model with overlapping generations. The human capital of a household depends on investment in education and on average human capital of the household's network neighborhood. Network structure is crucial for both the long run outcomes and the transition of otherwise identical economies. Network cohesion above a certain threshold eliminates differences across households and leads to long run equality, while below the threshold, inequality is high and persists more often. During transition, (i) high overall growth is achieved when the network has high degree centralization and the most degree central node has high initial human capital and (ii) high individual household growth is achieved when the household has low human capital relative to its neighborhood and is located in a neighborhood that has high average human capital relative to the whole economy.
Download or read book Working Paper written by and published by . This book was released on 1970 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Generational Conflict Human Capital Accumulation and Economic Growth written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Bureau of Economic Research, Inc. (NBER) presents an abstract of the June 2000 working paper entitled "Generational Conflict, Human Capital Accumulation, and Economic Growth," written by Douglas Holtz-Eakin, Mary E. Lovely, and Mehmet S. Tosun. The full text of the paper may be purchased online. This paper uses an overlapping-generations model to investigate the effect of this demographic transition on public spending for education. The authors find no link between demographic transition and reduced support for those programs concentrated among the young.
Download or read book Efficient Subsidization of Human Capital Accumulation with Overlapping Generations and Endogenous Growth written by Wolfram F. Richter and published by . This book was released on 2010 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-11-14 with total page 1143 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy
Download or read book Intergeneration Human Capital Transmission and Poverty Traps written by Carmen Camacho and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Demographic Change Human Capital and Endogenous Growth written by Alexander Ludwig and published by . This book was released on 2009 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper employs a large scale overlapping generations (OLG) model with endogenous education to evaluate the quantitative role of human capital adjustments for the economic consequences of demographic change. We find that endogenous human capital formation is an important adjustment mechanism which substantially mitigates the macroeconomic impact of demographic change. Welfare gains from demographic change for newborn households are approximately three times higher when households endogenously adjust their education. Low ability agents experience higher welfare gains. Endogenous growth through human capital formation is found to increase the long-run growth rate in the economy by 0.2-0.4 percentage points.
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.
