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dc.contributor.authorRichter, Wolfram F.en_US
dc.date.accessioned2008-09-17en_US
dc.date.accessioned2010-07-07T11:30:33Z-
dc.date.available2010-07-07T11:30:33Z-
dc.date.issued2008en_US
dc.identifier.piurn:nbn:de:101:1-2008042187en_US
dc.identifier.urihttp://hdl.handle.net/10419/34902-
dc.description.abstractAssuming a two-period model with endogenous choices of labour, education, and saving, it is shown to be second-best efficient not to distort the choice of education. In general this implies distorting the saving decision. Hence a strict order of policy priority is derived. Efficient tax policy ranks education higher than saving. The result assumes an isoelastic earnings function and holds else for arbitrary utility functions. Isoelasticity of earnings is justified with reference to the empirically well-founded Power Law of Learning.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 3451en_US
dc.subject.jelH21en_US
dc.subject.ddc330en_US
dc.subject.keywordEndogenous choice of educationen_US
dc.subject.keywordlabour and savingen_US
dc.subject.keywordefficient taxation of human and nonhuman capital investmenten_US
dc.subject.keywordpower law of learningen_US
dc.subject.stwOptimale Besteuerungen_US
dc.subject.stwSecond Besten_US
dc.subject.stwBildungsverhaltenen_US
dc.subject.stwSparenen_US
dc.subject.stwBildungsinvestitionen_US
dc.subject.stwInvestitionen_US
dc.subject.stwLernprozessen_US
dc.subject.stwTheorieen_US
dc.titleEfficient tax policy ranks education higher than savingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn56478589Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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