AMU - AMSE
5-9 Boulevard Maurice Bourdet, CS 50498
13205 Marseille Cedex 1
- People
- Garcia Penalosa
Garcia Penalosa
![](https://www.amse-aixmarseille.fr/sites/default/files/styles/profile_466_466/public/profile/photos/_ely6910nbokokok.jpg?itok=CYxcJ1Mb)
Îlot Bernard du Bois
Publications
No abstract is available for this item.
To examine how human capital accumulation influences both economic growth and income inequality, we carefully endogenize the demand and supply of skills. We explicitly introduce the costs and externalities in education, and examine how both relate to learning-by-doing and R&D intensity. In addition, we endogenize the determinants of the skill-bias of labor demand: the complementarity between technology and skilled and unskilled labor. Our results identify parameters that are central to the evolution of inequality during the development process. We characterise development thresholds when countries switch endogenously from pure learning to directed R&D, and we show that technical change can generate multiple steady states that are consistent with the cross-country data on inequality and skill-premia.
This paper explains the observed stagnation of "happiness" measures through a growth model in which agents care about conspicuous consumption. "Normal goods" confer direct utility, while "status goods" confer utility only at the expense of others. Firms can improve the quality of both goods through R&D. The Nash equilibrium of the consumer game results in the share of expenditure on status goods increasing with the number of times the status good has been improved. As the economy grows, resources for innovation are transferred entirely to status-good R&D. The resulting long-run rate of utility growth is negative.
We compare the efficiency and equity effects of three financing systems for higher education: the traditional tax-subsidy system, where education subsidies are financed from general taxation; loan schemes; and a graduate tax. We find that efficiency and equity targets cannot be simultaneously achieved by the traditional tax-subsidy system, and that both loan schemes and a graduate tax fare better. When education outcomes are uncertain, the graduate tax is to be preferred to a pure loan scheme because of the greater insurance provided by the former and because it tends to be preferable to an income contingent loan system. Copyright 2000 by Oxford University Press.
We analyze the relationship between inequality and economic growth from two directions. The first part of the survey examines the effect of inequality on growth, showing that when capital markets are imperfect, there is not necessarily a trade-off between equity and efficiency. It therefore provides an explanation for two recent empirical findings, namely, the negative impact of inequality and the positive effect of redistribution upon growth. The second part analyzes several mechanisms whereby growth may increase wage inequality, both across and within education cohorts. Technical change, and in particular the implementation of "General Purpose Technologies," stands as a crucial factor in explaining the recent upsurge in wage inequality.
In this paper, the author argues that one of the mechanisms through which inequality may affect long-run growth is through individuals' education possibilities. The cost of education is, therefore, a crucial variable. The author endogenizes this cost and shows that it will be high relative to average wealth in poor countries and relatively low in rich countries. With two-tailed distributions of wealth, this is going to imply that greater inequality increases growth rates in poor economies, while it decreases them in rich economies. Copyright 1995 by Royal Economic Society.
No abstract is available for this item.