Richter, Wolfram F. (contributor) - 2008
Assuming a two-period model with endogenous choices of labour, education, and saving, it is shown to be second-best … labour, education, and saving, it is
shown to be second-best efficient not to distort the choice of education. In general … do not however skim it off fully. In this paper it is shown that second-best policy
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abstains from distorting the …