Education and the poverty trap

Vicky Barham, Robin Boadway, Maurice Marchand and Pierre Pestieau
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Maurice Marchand: CORE, Université catholique de Louvain, B-1348 Louvain-la-Neuve, Belgium and Université de Li!ège

No 1992010, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: An overlapping generations model is constructed in which individual wealth is related to educational attainment, and in which liquidity constraints my induce children to invest in a sub-optimal level of education given their ability. Borrowing for educational attainment is obtained from within the family. Abilities differ among children and may be related to parental ability. Stationary state equilibria are found to exist in which children of poorer families are caught in a poverty trap because of an inability of finance their education. The role of redistributive policy is studied in this context.

Date: 1992-01-01
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Related works:
Journal Article: Education and the poverty trap (1995)
Working Paper: Education and the poverty trap (1995)
Working Paper: Education and Poverty Trap (1991)
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:1992010

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