Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/34859 
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dc.contributor.authorKaas, Leoen
dc.contributor.authorZink, Stefanen
dc.date.accessioned2008-10-10-
dc.date.accessioned2010-07-07T11:30:11Z-
dc.date.available2010-07-07T11:30:11Z-
dc.date.issued2008-
dc.identifier.piurn:nbn:de:101:1-20081014256en
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x3722en
dc.subject.jelI22en
dc.subject.ddc330en
dc.subject.keywordDirected searchen
dc.subject.keywordinvestmenten
dc.subject.keywordeducation financeen
dc.subject.stwBildungsverhaltenen
dc.subject.stwBildungsinvestitionen
dc.subject.stwArbeitsucheen
dc.subject.stwWettbewerben
dc.subject.stwBildungsfinanzierungen
dc.subject.stwAllokationseffizienzen
dc.subject.stwÖffentliche Bildungsausgabenen
dc.subject.stwTheorieen
dc.titleHuman capital investment with competitive labor search-
dc.type|aWorking Paperen
dc.identifier.ppn581607414en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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