Growth and Human Capital Accumulation under Uncertainty

Alexandra Rillaers
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Alexandra Rillaers: UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)

No 1998020, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: The aim of this paper is to understand the role of uncertainty in education choices and therefore in growth. We consider an overlapping generations model in which endogenous growth is introduced through human capital accumulation. We introduce uncertainty as to the individual returns to educational investment, and we assume markets to be incomplete. We study the effect of this uncertainty on the behavior of the risk averse individual regarding his effort in education. The analysis is carried out within a general equilibrium approach.

Keywords: Human capital; Growth; Education; Uncertainty; Overlapping Generations Model (search for similar items in EconPapers)
JEL-codes: I29 O41 (search for similar items in EconPapers)
Pages: 26
Date: 1998-09-01
New Economics Papers: this item is included in nep-dev and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:1998020

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