Arbeitspapier

Efficient education policy: A second-order elasticity rule

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Assuming a two-period model with endogenous choices of labour, education, and saving, efficient education policy is characterized for a Ramsey-like scenario in which the government is constrained to use linear instruments. It is shown that education should be effectively subsidized if, and only if, the elasticity of the earnings function is increasing in education. The strength of second-best subsidization increases in the elasticity of the elasticity of the earnings function. This second-order elasticity rule extends the well-known Ramsey-Boiteux Inverse Elasticity Rule.

Sprache
Englisch

Erschienen in
Series: CESifo Working Paper ; No. 2969

Klassifikation
Wirtschaft
Taxation and Subsidies: Efficiency; Optimal Taxation
Education: Government Policy
Human Capital; Skills; Occupational Choice; Labor Productivity
Thema
endogenous choice of education
labour, and saving
second-best efficient taxation
linear instruments
finite periods
Ramsey's Rule
Inverse Elasticity Rule
Bildungspolitik
Subvention
Optimale Besteuerung
Bildungsverhalten
Einkommensfunktion
Elastizität
Theorie

Ereignis
Geistige Schöpfung
(wer)
Richter, Wolfram F.
Ereignis
Veröffentlichung
(wer)
Center for Economic Studies and ifo Institute (CESifo)
(wo)
Munich
(wann)
2010

Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Richter, Wolfram F.
  • Center for Economic Studies and ifo Institute (CESifo)

Entstanden

  • 2010

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