A Comparison of Public and Private Education Systems in a General Equilibrium Model
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چکیده
This paper addresses three basic questions concerning public education and the economy. First, how do democratic societies determine how much education to provide? Second, how does this level of education compare with the level provided by a private system? Third, how might public education affect the income distribution within a society? These questions have been asked by others, especially Loury (1981), Glomm & Ravikumar (1992), and Perotti (1993). I briefly review some of the theoretical work on this topic to establish motivation for this paper.
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