Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/205499
Authors: 
Creedy, John
Gemmell, Norman
Year of Publication: 
2002
Series/Report no.: 
New Zealand Treasury Working Paper No. 02/24
Publisher: 
New Zealand Government, The Treasury, Wellington
Abstract: 
This paper constructs an endogenous growth model, applicable largely to developing countries, based on human capital accumulation in which education is publicly provided and financed, and schooling is compulsory. Public investment in human and physical capital are financed from taxes on wage and capital income, and consumption. The equilibrium growth properties of the model are examined and the steady-state effects of education and fiscal policy are derived. The specification of the human capital production function and the strength of labour supply effects are shown to be important for the magnitude of steady-state outcomes. Simulations illustrate the model's properties.
Subjects: 
Education
Taxation
Endogenous Growth
Labour Supply
General Equilibrium
JEL: 
H52
H2
H4
D5
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Working Paper

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