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importance of credit constraints in forming skills is examined. There is little support for the claim that untargeted income … will better capture the active role of the emerging autonomous child in learning and responding to the actions of parents …
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This paper presents a theoretical and empirical analysis of the role of life expectancy for optimal schooling and lifetime labor supply. The results of a simple prototype Ben-Porath model with age-specific survival rates show that an increase in lifetime labor supply is not a necessary, nor a...
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