Artikel
Education: Optimal choice and efficient policy
This paper argues that it suffices to assume distortionary wage taxation to prove the efficiency of effective subsidization of education. The paper does not rely on considerations of equity and market failure to justify subsidies. Instead, the optimal subsidy reduces the social cost of distortive wage taxation. The theoretical approach assumes a Mincer‐type earnings function, analyzes corner solutions of optimal schooling choice and derives the result of efficient subsidization in a Ramsey‐type framework. Second‐best policy is confronted with empirical evidence from OECD countries. The majority of countries are shown to subsidize tertiary education in effective terms.
- Language
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Englisch
- Bibliographic citation
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Journal: Canadian Journal of Economics/Revue canadienne d'économique ; ISSN: 1540-5982 ; Volume: 54 ; Year: 2021 ; Issue: 2 ; Pages: 840-863
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Richter, Wolfram F.
Schneider, Kerstin
- Event
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Veröffentlichung
- (who)
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Wiley
- (where)
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Hoboken, NJ
- (when)
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2021
- DOI
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doi:10.1111/caje.12518
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Richter, Wolfram F.
- Schneider, Kerstin
- Wiley
Time of origin
- 2021
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