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Jahrestagung des Vereins für Socialpolitik 2012 (Göttingen): Neue Wege und Herausforderungen für den Arbeitsmarkt des 21. Jh. >
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http://hdl.handle.net/10419/65414
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| Title: | | Public education, technological change and economic prosperity: semi-endogenous growth revisited  |
| Authors: | | Prettner, Klaus |
| Issue Date: | | 2012 |
| Series/Report no.: | | Beiträge zur Jahrestagung des Vereins für Socialpolitik 2012: Neue Wege und Herausforderungen für den Arbeitsmarkt des 21. Jahrhunderts - Session: Long-Term Labor Market Outcomes, Ageing F08-V2 |
| Abstract: | | We introduce publicly funded education into R&D based economic growth theory. Our framework allows us to i) explicitly describe a realistic process of human capital accumulation within these types of growth models, ii) reconcile semi-endogenous growth theory with the empirical evidence on the relationship between economic development and population growth, iii) revise the policy invariance result of semi-endogenous growth frameworks. In particular, we show that the model supports a negative (positive) association between economic growth and population growth if the education sector is well (badly) developed and that changes of public investments into education crucially affect the long-run balanced growth path. |
| JEL: | | J24 O11 O41 |
| Document Type: | | Conference Paper |
| Appears in Collections: | | Jahrestagung des Vereins für Socialpolitik 2012 (Göttingen): Neue Wege und Herausforderungen für den Arbeitsmarkt des 21. Jh.
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