Viaene, Jean-Marie; Zilcha, Itzhak - 2002
distribution and growth. Our overlapping gen-erations economy has the following features: (1) consumers are heterogenous … investments in education financed by taxes(possibly, with a level determined by majority voting); (3) due to investment inhuman … capital, which is a factor of production, we have endogenous growth. Weexplore several types of cross-country variations in …