scholarly journals PUBLIC INVESTMENT IN A HIERARCHICAL EDUCATIONAL SYSTEM WITH CAPITAL–SKILL COMPLEMENTARITY

2016 ◽  
Vol 21 (3) ◽  
pp. 757-784 ◽  
Author(s):  
Assaf Sarid
Keyword(s):  
Higher Education ◽  
Overlapping Generations ◽  
Basic Education ◽  
Public Investment ◽  
Overlapping Generations Model ◽  
Enrollment Rate ◽  
Education Literature ◽  
Highly Educated ◽  
Public Resources ◽  
Shaped Pattern

In this study I bring together two different literatures: the hierarchical education literature and the skill-biased growth literature. In an overlapping-generations model I introduce capital–skill complementarity into a hierarchical education system. I obtain results that differ qualitatively from previous studies, among which are the following: (i) At earlier stages of development, basically educated labor contributes to growth more than highly educated labor. The opposite occurs at later stages. (ii) Even when all individuals acquire higher education, a growth-enhancing policy subsidizes higher education. (iii) In a growth-enhancing policy, the share of public resources allocated to basic education declines as the economy grows. (iv) The enrollment rate evolves in an S-shaped pattern, as occurred in several OECD countries.

scholarly journals AGING, THE GREAT MODERATION, AND BUSINESS-CYCLE VOLATILITY IN A LIFE-CYCLE MODEL

2016 ◽  
Vol 21 (2) ◽  
pp. 362-383 ◽  
Author(s):  
Burkhard Heer ◽  
Stefan Rohrbacher ◽  
Christian Scharrer
Keyword(s):  
Life Cycle ◽  
Labor Supply ◽  
Overlapping Generations ◽  
Empirical Studies ◽  
Output Volatility ◽  
Great Moderation ◽  
Overlapping Generations Model ◽  
Age Composition ◽  
The Impact ◽  
Shaped Pattern

According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping-generations model that replicates the empirically observed pattern and study the impact of demographic transition on output volatility. We find that the change in age composition itself has only a marginal influence on output volatility, as the mitigating effect of more individuals with lower labor supply volatilities is compensated for by higher age-specific labor shares. Instead, the driving force behind the Great Moderation in our model is the downward shift of the age-specific labor supply volatility curve.

scholarly journals INCOME INEQUALITY, MOBILITY, AND THE WELFARE STATE: A POLITICAL ECONOMY MODEL

2012 ◽  
Vol 17 (6) ◽  
pp. 1198-1226 ◽  
Author(s):  
Luca Bossi ◽  
Gulcin Gumus
Keyword(s):  
Income Inequality ◽  
Welfare State ◽  
Social Insurance ◽  
Overlapping Generations ◽  
Tax Rates ◽  
Overlapping Generations Model ◽  
Public Programs ◽  
Transfer Payments ◽  
Set Up ◽  
The Welfare State

In this paper, we set up a three-period stochastic overlapping-generations model to analyze the implications of income inequality and mobility for demand for redistribution and social insurance. We model the size of two different public programs under the welfare state. We investigate bidimensional voting on the tax rates that determine the allocation of government revenues among transfer payments and old-age pensions. We show that the coalitions formed, the resulting political equilibria, and the demand for redistribution crucially depend on the level of income inequality and mobility.

scholarly journals Endogenous Agency Problems and the Dynamics of Rents

2020 ◽  
Vol 87 (6) ◽  
pp. 2542-2567
Author(s):  
B Biais ◽  
A Landier
Keyword(s):  
Overlapping Generations ◽  
Agency Problems ◽  
Overlapping Generations Model ◽  
Complex Tasks ◽  
Complex Skills ◽  
Do So

Abstract While potentially more productive, more complex tasks generate larger agency rents. Agents therefore prefer to acquire complex skills, to earn large rents. In our overlapping generations model, their ability to do so is kept in check by competition with predecessors. Old agents, however, are imperfect substitutes for young ones, because the latter are easier to incentivize, thanks to longer horizons. This reduces competition between generations, enabling young managers to go for larger complexity than their predecessors. Consequently, equilibrium complexity and rents gradually increase beyond what is optimal for the principal and for society.

scholarly journals Underpinning the entrepreneurship educator’s toolkit: conceptualising the influence of educational philosophies and theory

2021 ◽  
Author(s):  
Robin Bell
Keyword(s):  
Higher Education ◽  
Learning Process ◽  
Educational Philosophy ◽  
Entrepreneurship Education ◽  
Theory And Practice ◽  
Learning Theories ◽  
Philosophical Orientation ◽  
Education Literature ◽  
Educational Philosophies ◽  
Literature Theory

AbstractEntrepreneurship educators can maximise the effectiveness of their delivery by having a firm grasp of the different educational philosophies and theories that underpin entrepreneurship education pedagogy and practice. A particular educational philosophical orientation underlies, directs, and drives educator practices and should align with what the teaching seeks to impart and achieve, and the roles the learners and educator play in the learning process. Whilst educators might not always be explicitly aware of their philosophical orientation, it will direct and drive their pedagogic practice and have implications for what they deliver, and how they deliver it. The benefits of bringing together different learning theories, philosophies, and approaches for entrepreneurship education has previously been posited in the literature. However, it has been highlighted that connections between educational theory and practice are limited, and that the field of entrepreneurship education could be advanced through providing links between education literature, theory, and learning. This paper advances the literature by linking educational philosophy and theory to entrepreneurship education and pedagogy in higher education. It discusses and highlights how behaviourism, cognitivism, constructivism, and humanism can be used to underpin and support learning in entrepreneurship education. This meets calls for the conceptualisation of how educational philosophies and theories can be integrated into entrepreneurship education to support learners.

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