Early and Late Human Capital Investments, Borrowing Constraints, and the Family.

Autor/inn/en	Caucutt, Elizabeth M.; Lochner, Lance
Titel	Early and Late Human Capital Investments, Borrowing Constraints, and the Family. Gefälligkeitsübersetzung: Frühe und späte Bildungsinvestitionen, Kreditbeschränkungen und die Familie.
Quelle	In: Journal of political economy, 128 (2020) 3, S. 1065-1147 PDF als Volltext kostenfreie Datei Link als defekt meldenVerfügbarkeit
Sprache	englisch
Dokumenttyp	online; gedruckt; Zeitschriftenaufsatz
ISSN	0022-3808; 0047-2697; 1537-534X
DOI	10.1086/704759
Schlagwörter	Bildung; Bildungsmobilität; Soziale Herkunft; Generation; Familie; Armut; Mobilität; Wirtschaftslage; Humankapital; Investition; Kredit; Subventionspolitik; Verfügbares Einkommen; Arbeitsmarktrisiko; Auswirkung; USA
Abstract	"We develop a dynastic human capital investment framework to study the importance of family borrowing constraints and uninsured labor market risk, as well as the process of intergenerational ability transmission, in determining human capital investments in children at different ages. We calibrate our model to data from the Children of the National Longitudinal Survey of Youth. While the effects of relaxing any borrowing limit at a single stage are modest, eliminating all life-cycle borrowing limits dramatically increases investments, earnings, and intergenerational mobility. The impacts of policy changes at college-going ages are greater when anticipated earlier, and shifting subsidies to earlier ages increases aggregate welfare and human capital." (Author's abstract, IAB-Doku).
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2020/3