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Education, social security, and growth

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M Kaganovich… - Journal of Public Economics, 1999 - Elsevier
We study the role of government's allocation of tax revenues between two outlays: public
investment in education (a transfer to the young generation) and social security benefits to
the older generation. In an overlapping generations economy with pay-as-you-go social ...
Cited by 143 - Related articles - Library Search - All 10 versions

Aging population and education finance

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M Gradstein… - Journal of Public Economics, 2004 - Elsevier
Conventional wisdom suggests that aging of population will increase political pressure to tilt
the composition of social spending in favor of the elderly, while potentially sacrificing other
publicly provided goods such as education. This view seems to be supported by recent ...
Cited by 80 - Related articles - Library Search - BL Direct - All 9 versions

Distributional Effects of Public Education in an Economy with Public Pensions*

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G Glomm… - International Economic Review, 2003 - Wiley Online Library
We study how the allocation of government expenditures between two major outlays—
education and pay-as-you-go social security—affects human capital distribution in an
economy with heterogeneous agents. We consider an overlapping generations economy ...
Cited by 48 - Related articles - BL Direct - All 14 versions

The quantity and quality of teachers: Dynamics of the trade-off

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G Gilpin… - Journal of Public Economics, 2011 - Elsevier
The paper addresses the two-fold rise in teacher–student ratio in the American K-12 school
system in the post-World War II period accompanied by the evidence of a decline in the
relative quality of teachers. We develop a dynamic general equilibrium framework for ...
Cited by 29 - Related articles - Get it from MIT Libraries - Library Search - All 37 versions

Social security systems, human capital, and growth in a small open economy

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M Kaganovich… - 2008 - papers.ssrn.com
Abstract: We consider a small open economy in which the level of public education funding
is determined by popular vote. We show that growth can be enhanced by the introduction of
pay-as-you-go pensions even if the growth rate of aggregate wages falls short of the ...
Cited by 26 - Related articles - All 24 versions

Sustained endogenous growth with decreasing returns and heterogeneous capital

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M Kaganovich - Journal of Economic Dynamics and Control, 1998 - Elsevier
The possibility of sustained long-run growth is typically associated with the presence of
some endogenousengine of growth'. It may allow the economy to grow without bound
despite the use of some non-reproducible resources. Such situations can lead to dynamic ...
Cited by 20 - Related articles - All 8 versions

Social security, public education and the growth-inequality relationship

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G Glomm… - European Economic Review, 2008 - Elsevier
We study how the relationship between economic growth and inequality depends upon the
levels of funding of two of the largest government programs, public education and social
security. We do this in the context of an overlapping generations economy with ...
Cited by 20 - Related articles - All 5 versions

Income distribution effects of public education and social security in a growing economy

G Glomm… - Working Papers, 1999 - econpapers.repec.org
Abstract: We study how the allocation of government expenditures between two major outlays
-- education and pay-as-you-go social security -- affects income distribution in an economy with
heterogeneous agents. ... There are no downloads for this item, see the EconPapers FAQ ...
Cited by 13 - Related articles - Cached - Get it from MIT Libraries - All 5 versions

Returns to human capital under uncertain reform: Good guys finish last

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M Alexeev… - Journal of economic behavior & organization, 1998 - Elsevier
This paper models the career decisions of agents, heterogeneous in their ability, facing the
possibility of future drastic changes (eg reforms) affecting the demand for different
professions. Supposing that the uncertainty arises after educational choices have been ...
Cited by 11 - Related articles - All 7 versions

[PDF] Education reform and access to public education in Russia

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M Kaganovich - ratio, 2001 - economics.ca
Abstract A legacy of most transition economies is the combination of high achievements in
all measures of educational attainment with laggard levels of per capita GDP. Therefore
growth prospects of transition economies significantly depend on their ability to capitalize ...
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Dynamics of privatization under a subsistence constraint

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M Alexeev… - Journal of Comparative Economics, 2001 - Elsevier
Former Soviet-type economies were characterized by extensive state subsidies to workers
that kept wages above the marginal product of labor. Privatization limits the state's ability to
redistribute income. If worker earnings are to be above the politically motivated ...
Cited by 9 - Related articles - BL Direct - All 9 versions

Decentralization of intertemporal economies with discounted maximin criterion

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M Kaganovich - International Economic Review, 2000 - Wiley Online Library
2. Abstract The intertemporal decentralization literature scrutinizes the ability of markets to
achieve dynamically optimal allocation of resources. Put differently, it examines the
possibility of designing a mechanism enabling short-lived agents to make independent ...
Cited by 6 - Related articles - BL Direct - All 10 versions

Distributional constraints on the speed of privatization

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M Alexeev… - Economics letters, 1995 - Elsevier
This paper argues that adverse distributional effects may prevent speedy privatization in
former command economies. An imbalanced structure of the work force, combined with a
politically motivated subsistence consumption constraint, may necessitate gradual ...
Cited by 5 - Related articles - All 7 versions

Rolling planning: Optimality and decentralization

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M Kaganovich - Journal of Economic Behavior & Organization, 1996 - Elsevier
Rolling planning is a procedure of continual revision of dynamic programs, such that the
horizon N lying ahead at the time of each revision remains constant. Since, in a rolling plan,
the decisions about current resource allocation are implemented without being verified by ...
Cited by 3 - Related articles - All 6 versions

Pay-as-you-go or funded social security? A general equilibrium comparison

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M Kaganovich… - Journal of Economic Dynamics and Control, 2012 - Elsevier
This paper demonstrates that the analysis of fiscal sustainability of social security must
include the education funding dimension of public policy, which affects the productivity of
future workers. This fact is true under both social security regimes: pay-as-you-go (PAYG) ...
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[CITATION] Professor Professor and Director of Graduate Studies Department of Economics Department of Economics Indiana University Indiana University 100 S

EMLM Kaganovich - Woodlawn
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Forward and backward lags in a multi-sector model

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M Kaganovich - Economics Letters, 1992 - Elsevier
Abstract A generalized von Neumann-Leontief model is considered where both the effects of
accumulation (forward lags) and compensation of residual damages (backward lags) are
distributed over time. The presence of backward lags implies that any activity generates a ...
Cited by 1 - Related articles - All 7 versions

Accumulation and compensation turnpikes in a Leontief model

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M Kaganovich - Economic Theory, 1996 - Springer
Summary The paper considers a model of an economy with after-effects: any production
activity generates some subsequent expenses, like compensation of residual damages.
Internalizing the after-effects in production costs at the time they are generated proves to ...
Cited by 1 - Related articles - BL Direct - All 8 versions

[PDF] Alternative pension systems and growth

[PDF] from uic.edu
M Kaganovich… - 2007 - econ.uic.edu
Abstract Demographic trends in most developed economies are characterized by rising
longevity and decreasing birthrates. These trends endanger the sustainability of the current
public pension systems. Therefore social security reform proposals are on the agenda in ...
Cited by 1 - Related articles - View as HTML - All 3 versions

[PDF] PAYG pensions, public education and growth

[PDF] from ifo.de
M Kaganovich… - CESifo Conference Centre, 2008 - ifo.de
Abstract: We consider a small open economy in which people vote on the size of public
education. It is shown that growth and welfare can be enhanced by the introduction of pay-
as-you-go pensions even if the growth rate of aggregate wages falls short of the interest ...
Cited by 1 - Related articles - View as HTML - All 7 versions

Decentralized Evolutionary Mechanism of Growth in a Linear Multi‐sector Model

Full text - MIT Libraries
M Kaganovich - Metroeconomica, 1998 - Wiley Online Library
The paper considers the following mechanism of intertemporal decisions in a linear
multisector production model: at each time ta program for two time periods t, t+ 1 is worked
out but is followed only during the first period t, after which the rest of the program is ...
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[CITATION] PAYGO Or Funded Social Security: A General Equilibrium Comparison

I Zilcha, M Kaganovich… - 2010 - Pinhas Sapir Center for …
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[CITATION] Income Distribution Effects of Public Education And Social Security in a Growing Economy

GGM Kaganovich
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[CITATION] Increasing Longevity and Funding of Education

M Gradstein… - 2002
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DP3950 Aging Population and Education Finance

M Gradstein… - 2003 - cepr.org
Conventional wisdom suggests that aging of population will increase political pressure to tilt
the composition of social spending in favour of the elderly, while potentially sacrificing other
publicly provided goods such as education. This view seems to be supported by recent ...
Cached - All 4 versions

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