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Journal of Political Economy

Опубликовано на портале: 08-12-2003
David Card, Alan B. Krueger Journal of Political Economy. 1992.  Vol. 100. No. 1. P. 1-40. 
This paper estimates the effects of school quality--measured by the pupil/teacher ratio, average term length, and relative teacher pay--on the rate of return to education for men born between 1920 and 1949. Using earnings data from the 1980 census, we find that men who were educated in states with higher-quality schools have a higher return to additional years of schooling. Rates of return are also higher for individuals from states with better-educated teachers and with a higher fraction of female teachers. Holding constant school quality measures, however, we find no evidence that parental income or education affects average state-level rates of return.
Опубликовано на портале: 08-12-2003
Gerhard Glomm, B. Ravikumar Journal of Political Economy. 1992.  Vol. 100. No. 4. P. 818-834. 
In this paper, we present an overlapping generations model with heterogeneous agents in which human capital investment through formal schooling is the engine of growth. We use simple functional forms for preferences, technologies, and income distribution to highlight the distinction between economies with public education and those with private education. We find that income inequality declines more quickly under public education. On the other hand, private education yields greater per capita incomes unless the initial income inequality is sufficiently high. We also find that societies will choose public education if a majority of agents have incomes below average.