Journal
JOURNAL OF POLICY MODELING
Volume 33, Issue 6, Pages 852-865Publisher
ELSEVIER SCIENCE INC
DOI: 10.1016/j.jpolmod.2011.08.020
Keywords
Public expenditure; Human capital; General equilibrium model; Overlapping generations; Canada
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Much of the current debate in ageing countries focuses on whether governments should increase investments in human capital. We address this issue by simulating the effects of additional education spending using an overlapping-generations model applied to Canada. In the context of population ageing, the results indicate that how the policy is funded has powerful impacts on the targeted outcomes. Higher education incentives may increase the rate of human capital accumulation and mitigate the negative effects of slowing labour force growth. However, the impact depends on the distortions implied by alternative tax instruments and the efficiency of public expenditures on education. (C) 2011 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.
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