Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/80643 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 7415
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
This paper formulates a structural dynamic programming model of preschool investment choices of altruistic parents and then empirically estimates the structural parameters of the model using the NLSY79 data. The paper finds that preschool investment significantly boosts cognitive and non-cognitive skills, which enhance earnings and school outcomes. It also finds that a standard Mincer earnings function, by omitting measures of non-cognitive skills on the right hand side, overestimates the rate of return to schooling. From the estimated equilibrium Markov process, the paper studies the nature of within generation earnings distribution and intergenerational earnings and schooling mobility. The paper finds that a tax financed free preschool program for the children of poor socioeconomic status generates positive net gains to the society in terms of average earnings and higher intergenerational earnings and schooling mobility.
Schlagwörter: 
preschool investment
early childhood development
intergenerational social mobility
structural dynamic programming
JEL: 
J24
J62
O15
I21
Dokumentart: 
Working Paper

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