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Optimal Educational Investment: Domestic Equity and International Competition

Research output: Working paper

Published

Publication date2009
Place of publicationLancaster University
PublisherThe Department of Economics
Original languageEnglish

Publication series

NameEconomics Working Paper Series

Abstract

We construct a family of models to analyse the effect on optimal educational investment of (i) society's preferences for equity and (ii) competition between countries. The models provide insights about the impact of a variety of parameters on optimal policy. In particular, we identify a form of 'overeducation' that is new to the literature, and provide a counterexample to a common finding in the literature on fiscal federalism.