Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/34902 
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dc.contributor.authorRichter, Wolfram F.en
dc.date.accessioned2008-09-17-
dc.date.accessioned2010-07-07T11:30:33Z-
dc.date.available2010-07-07T11:30:33Z-
dc.date.issued2008-
dc.identifier.piurn:nbn:de:101:1-2008042187en
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x3451en
dc.subject.jelH21en
dc.subject.ddc330en
dc.subject.keywordEndogenous choice of educationen
dc.subject.keywordlabour and savingen
dc.subject.keywordefficient taxation of human and nonhuman capital investmenten
dc.subject.keywordpower law of learningen
dc.subject.stwOptimale Besteuerungen
dc.subject.stwSecond Besten
dc.subject.stwBildungsverhaltenen
dc.subject.stwSparenen
dc.subject.stwBildungsinvestitionen
dc.subject.stwInvestitionen
dc.subject.stwLernprozessen
dc.subject.stwTheorieen
dc.titleEfficient tax policy ranks education higher than saving-
dc.type|aWorking Paperen
dc.identifier.ppn56478589Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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