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Substitutability in Human Capital Formation and Education Inequality

Lin Zhang

Economics Bulletin, 2019, vol. 39, issue 1, 55-63

Abstract: This paper shows that substitutability in human capital formation could influence inequality in education. By incorporating a model of self-selection in education where individuals are heterogeneous in initial wealth and innate ability, we show that any increase in the substitutability of innate ability for initial wealth reduces educational inequality.

Keywords: Human capital; Education inequality; Heterogeneity; Substitutability (search for similar items in EconPapers)
JEL-codes: I2 (search for similar items in EconPapers)
Date: 2019-01-10
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