Education Policy and Intergenerational Transfers in Equilibrium

被引：58

作者：

Abbott, Brant ^{[1
]}

Gallipoli, Giovanni ^{[2
,3
]}

Meghir, Costas ^{[4
,5
]}

Violante, Giovanni L. ^{[5
,6
]}

机构：

[1] Queens Univ, Kingston, ON, Canada

[2] Univ British Columbia, Vancouver, BC, Canada

[3] Ctr Econ & Policy Res, London, ON, Canada

[4] Yale Univ, Inst Fiscal Studies, Inst Labor Econ, Ctr Econ & Policy Res, New Haven, CT 06520 USA

[5] Natl Bur Econ Res, Cambridge, MA 02138 USA

[6] Princeton Univ, Ctr Econ Behav & Inequal, Ctr Econ & Policy Res, Inst Fiscal Studies,Inst Labor Econ, Princeton, NJ 08544 USA

来源：

JOURNAL OF POLITICAL ECONOMY | 2019年 / 127卷 / 06期

基金：

英国经济与社会研究理事会;

关键词：

DYNAMIC DISCRETE-CHOICE; BORROWING CONSTRAINTS; LIFE-CYCLE; CONSUMPTION INEQUALITY; CREDIT CONSTRAINTS; COLLEGE; INCOME; TECHNOLOGY; RETURNS; GROWTH;

D O I：

10.1086/702241

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We examine the equilibrium effects of college financial aid policies building an overlapping-generations life cycle model with education, labor supply, and saving decisions. Cognitive and noncognitive skills of children depend on parental education and skills and affect education and labor market outcomes. Education is funded by parental transfers that supplement grants, loans, and student labor supply. Crowding out of parental transfers by government programs is sizable and cannot be ignored. The current system of federal aid improves long-run welfare by 6 percent. More generous ability-tested grants would increase welfare and dominate both an expansion of student loans and a labor tax cut.

引用

页码：2569 / 2624

页数：56

共 78 条

[1] Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers [J].