A Dynamic General Equilibrium Analysis of the Political Economy of Public Education

Jorge Soares ()
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Jorge Soares: Department of Economics,University of Delaware

No 05-05, Working Papers from University of Delaware, Department of Economics

Abstract: The primary objective of this paper is to highlight the distinct roles of altruism and of self-interest in the political determination of a public education policy. I assess the relative importance of three factors in the determination of the equilibrium level of this policy: altruism, the impact of public funding of education on social security benefits and its impact on factor prices. I then focus on the impact of implementing a social security system on the equilibrium levels of education funding and on welfare. I find that although, in the benchmark economy, the presence of social security might generate support for public funding of education, its overall effect on the well-being of individuals is negative for any level of social security taxation.

Keywords: Public Education; Voting; General Equilibrium. (search for similar items in EconPapers)
JEL-codes: D78 E62 I22 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2005
New Economics Papers: this item is included in nep-dge, nep-edu, nep-mac, nep-pol and nep-ure
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Related works:
Journal Article: A dynamic general equilibrium analysis of the political economy of public education (2006)
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