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http://hdl.handle.net/10419/21196
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| Title: | | Child Labor and the Education of a Society  |
| Authors: | | Bell, Clive Gersbach, Hans |
| Issue Date: | | 2001 |
| Series/Report no.: | | IZA Discussion paper series 338 |
| Abstract: | | We examine economic growth, inequality and education when the wellspring of growth is the formation of human capital through a combination of the quality of child-rearing and formal schooling. The existence of multiple steady states is established, including a poverty trap, wherein children work full-time and no human capital accumulation takes place, with continuous growth at an asymptotically steady rate as an alternative. We show that a society can escape from the poverty trap into a condition of continuous growth through a program of taxes and transfers. Temporary inequality is a necessary condition to escape in finite time, but long-run inequalities are avoidable provided sufficiently heavy, but temporary taxes can be imposed on the better-off. Programs aiming simply at high attendance rates in the present can be strongly non-optimal. |
| Subjects: | | Child labor growth and inequality education human capital redistributive policies poverty traps |
| JEL: | | H2 I2 O1 O41 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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