Macroeconomic Effects of Public Education Expenditure
This article studies the growth and welfare effects of public education spending in the USA for the post-war period. We calibrate a standard dynamic general equilibrium model, where human capital is the engine of long-run endogenous growth. Our results suggest that while increases in public education spending raise growth, these increases are not necessarily welfare promoting. Welfare gains however can be realized if increases in public education spending are accompanied by changes in the government tax-spending mix. (JEL codes: H52, E62) Copyright , Oxford University Press.
|Year of publication:||
|Authors:||Angelopoulos, Konstantinos ; Malley, Jim ; Philippopoulos, Apostolis|
CESifo Economic Studies. - CESifo, ISSN 1610-241X. - Vol. 54.2008, 3, p. 471-498
|Type of publication:||Article|
Persistent link: https://www.econbiz.de/10004961335
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