Education Decisions and Policy Interventions : A General Equilibrium Evaluation

@inproceedings{Gallipoli2006EducationDA,
  title={Education Decisions and Policy Interventions : A General Equilibrium Evaluation},
  author={Giovanni Gallipoli and Costas Meghir},
  year={2006}
}
This paper examines the effects of alternative policies on the distribution of education in both partial and general equilibrium. We build a life-cycle model with endogenous labor supply, consumption/saving, and education choices, allowing for agents’ heterogeneity in several dimensions and for incomplete insurance markets. PSID data are used to estimate relevant characteristics of education-specific dynamic earnings processes. Through numerical simulations, we compare the effects of… CONTINUE READING

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