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dc.contributor.authorKaas, Leoen_US
dc.contributor.authorZink, Stefanen_US
dc.date.accessioned2008-10-10en_US
dc.date.accessioned2010-07-07T11:30:11Z-
dc.date.available2010-07-07T11:30:11Z-
dc.date.issued2008en_US
dc.identifier.piurn:nbn:de:101:1-20081014256en_US
dc.identifier.urihttp://hdl.handle.net/10419/34859-
dc.description.abstractWe study human capital accumulation in an environment of competitive search. Given that unemployed workers can default on their education loans, skilled individuals with a larger debt burden prefer riskier but better paid careers than is socially desirable. A higher level of employment risk in turn depresses the skill premium and the incentives to invest in education. The equilibrium allocation is characterized by too much unemployment, underinvestment by the poor, and too little investment in skill-intensive technologies. A public education system funded by graduate taxes can restore efficiency. More generally, differences in education funding can account for cross-country variations in wage inequality.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA discussion papers 3722en_US
dc.subject.jelI22en_US
dc.subject.ddc330en_US
dc.subject.keywordDirected searchen_US
dc.subject.keywordinvestmenten_US
dc.subject.keywordeducation financeen_US
dc.subject.stwBildungsverhaltenen_US
dc.subject.stwBildungsinvestitionen_US
dc.subject.stwArbeitsucheen_US
dc.subject.stwWettbewerben_US
dc.subject.stwBildungsfinanzierungen_US
dc.subject.stwAllokationseffizienzen_US
dc.subject.stwÖffentliche Bildungsausgabenen_US
dc.subject.stwTheorieen_US
dc.titleHuman capital investment with competitive labor searchen_US
dc.typeWorking Paperen_US
dc.identifier.ppn581607414en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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