Holtz-Eakin, Douglas; Lovely, Mary E.; Tosun, Mehmet Serkan - 2021
education. We use an overlapping-generations model to investigate the effect of this demographic transition on the endogenous … determination of public spending for education. A demographic transition alters the identity of the median voter, leading to a … preference for less education spending. If the public sector is inefficiently small, demographic transition exacerbates the …