Optimal Education with Mobile Capital. An OLG Approach (new title: Optimal Public Education under Capital Mobility)

Jean-Marie Viaene and Itzhak Zilcha

No 289, CESifo Working Paper Series from CESifo

Abstract: The paper considers a two-country model of overlapping generations economies with intergenerational transfers carried out in the form of bequest and investment in human capital. We examine in competitive equilibrium the optimal provision of education with and without capital markets integration. First, we explore how regimes of education provision - public, private or mixed - arise and how they affect the dynamics of autarkic economies. Second, we study the transitory and long-run effects of capital markets integration, in equilibrium, on the optimal provision of education and growth. Third, we examine a competition game where countries compete in the provision of public education.

Keywords: Altruism; education; growth; human capital; capital markets integration (search for similar items in EconPapers)
JEL-codes: D90 E20 F20 J20 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_289

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