Inequalities, public education expenditures and intergenerational mobility

This paper shows that, depending on the initial distribution of material wealth and that of individuals' abilities, economies converge in the long-run towards different levels of the size of the skilled workforce, and average wealth. Furthermore, unless the income tax rate is too high, the increase in total public funds is associated, in the long-run, with a higher net mobility, a larger fraction of skilled workers, and higher levels of wealth of all the dynasties. In addition, the reallocation of public expenditures from basic to advanced education can result in a lower mobility, a lower long-run size of skilled workforce, and a lower long-run level of wealth held by rich dynasties, if the transfer of resources comes at the expense of excessively lowering the quality of education at the basic schooling level.

Credit constraints in education: Evidence from international data

This paper tests empirically the credit-constraints thesis by using cross-country data on secondary and higher-education enrolment rates. Contrary to some previous works in this direction, we find several pieces of evidence that support the importance of such a thesis. First, controlling for the effects of both economic development and educational inequality, we find that school enrolments are negatively correlated with income inequality and positively correlated with financial-market development. Second, these correlations are robust to the specific country-effects, the composition of the sample of countries, and the inclusion of public education expenditures. Finally, public education expenditures are significantly correlated with school enrolment ratios. Distinguishing developed countries from developing ones reveals that the effects of both social and material factors are larger in rich countries than in poor ones. Our estimation results also show that the way public expenditures are allocated across educational levels affects enrolment ratios in higher educational stages. Specifically, countries where expenditure allocations are biased in favour of the advanced stages of education at the expense of the basic levels also experience low enrolment ratios in the higher levels of education.borrowing constraints, educational inequality, education expenditures, empirical estimations

Education and economic growth: the role of public expenditures allocation

We show in this paper that GDP per-capita growth is more likely affected by the accumulation of education at the higher schooling levels in both OECD and DCs. However, in terms of the public funds allocation, this result does not prevent public education expenditures to be reallocated from higher toward basic schooling levels in DCs. Indeed, such a reallocation would improve the quality of education at the basic stages of education, which should be, in turn, accompanied by a faster accumulation of human capital at the higher schooling stages and faster economic growth.expenditures allocation, economic growth

Human capital investment and growth: A dynamic education model

The paper aims to explicitly determine the distribution of human capital across hierarchic educational stages along the transition process, and to analyse the determinants of its evolution. We apply optimal control principles in a model of endogenous growth with two successive stages of education. We show that with initial relative scarcity of advanced human capital, the duration of studies at the advanced level should increase until reaching its equilibrium level. We also find that, by raising the duration of studies at the advanced schooling level, improvements in the quality of education at this level also enhances the economy’s growth rate, both in the transition and in the long-run.Human capital investment; growth; a dynamic model

Le mécanisme de sélection des firmes est-il efficace? Une approche en termes de coût d’opportunité

La littérature récente a toujours attribué au phénomène dit de « sélection naturelle » – selon lequel, seules les firmes les plus efficientes survivent alors que les autres sont éliminées par le jeu de la concurrence – un rôle crucial dans la croissance de l’efficience agrégée. En supposant, dans le cadre d’un modèle théorique que les firmes différent non seulement par leurs niveaux d’efficience mais aussi par leurs valeurs de réservation, nous montrons ici que le rôle du mécanisme de sélection dans la croissance de l’efficience agrégée peut être remis en cause notamment lorsque les sortants sont plutôt les firmes les plus efficientes. Un autre résultat important consiste à montrer, qu’à l’équilibre stationnaire, les firmes efficientes et inefficientes peuvent coexister. Ce faisant, le modèle développé permet de rendre compte de la persistance des firmes inefficientes et de la grande dispersion des niveaux d’efficience constatée dans plusieurs études empiriques.The recent literature has always attributed to the natural selection mechanism – along which only efficient firms can survive while inefficient ones are eliminated by market competition – a crucial role in the aggregated efficiency growth. By assuming that firms differ not only by their efficiency levels but by their opportunity costs too, our model shows that the selection mechanism can reduce aggregated efficiency especially when exiting firms are the most efficient ones. Our model also shows that both efficient and inefficient firms can coexist in the stationary equilibrium. This result can interpret some empirical findings such as the persistence of inefficient firms and the high dispersion of firms’ efficiency levels

My Little Box, Oh My Little Box A Video-Netnographic Study On The Expression Of Values In Subscription-Based E-Commerce

This paper focuses on the consumption experience of a cosmetics box issued from subscription-based e-commerce. On the basis of a netnographic analysis of videos and comments on YouTube, we highlight that the value typology developed by Holbrook (1999) applies to that new form of e-commerce and consumption experience

Human capital investment and growth: A dynamic education model

The paper aims to explicitly determine the distribution of human capital across hierarchic educational stages along the transition process, and to analyse the determinants of its evolution. We apply optimal control principles in a model of endogenous growth with two successive stages of education. We show that with initial relative scarcity of advanced human capital, the duration of studies at the advanced level should increase until reaching its equilibrium level. We also find that, by raising the duration of studies at the advanced schooling level, improvements in the quality of education at this level also enhances the economy’s growth rate, both in the transition and in the long-run