Public Policy for Efficient Education
Journal
Metroeconomica
ISSN
0026-1386
ISSN-Digital
1467-999X
Type
journal article
Date Issued
2002-11-01
Author(s)
Abstract
We study the role of public policy in promoting efficiency in human capital accumulation. Agents accumulate human capital by allocating time to home study and school attendance. The return to time spent in school is subject to congestion. The individual also faces an aggregate externality in skill accumulation. We find that a tuition fee combined with personal stipends can correct the resulting distortions by partly shifting educational effort from schools and universities to noninstitutional forms of learning, such as home study. The dynamic effects of education policy as well as their welfare implications are also calculated in the paper.
Language
English
Keywords
Education
political planning
public administration
universities & colleges
school attendance.
HSG Classification
not classified
Refereed
No
Publisher
Blackwell
Publisher place
Oxford
Volume
53
Number
4
Start page
361
End page
390
Pages
30
Subject(s)
Eprints ID
2116
File(s)![Thumbnail Image]()
Name
IFFDP0107.pdf
Size
207.05 KB
Format
Adobe PDF
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