Full-Time Schooling in Life-Cycle Models of Human Capital Accumulation

dc.contributor.author	Wallace, Dudley	en_US
dc.contributor.author	Ihnen, L. A.	en_US
dc.date.accessioned	2010-03-09T15:45:16Z
dc.date.available	2010-03-09T15:45:16Z
dc.date.issued	1975	en_US
dc.identifier.uri	http://hdl.handle.net/10161/2108
dc.description.abstract	A reduced-form equation relating length of "formal schooling" to market, endowment, and ability parameters was derived for a life-cycle human capital accumulation model with alternative assumptions: (a) equal borrowing and lending rates and (b) no loans for human capital investment. Length of "formal schooling" increases when loans are unavailable. For both cases, length of "formal schooling" varies directly with length of work life, a Hicks-neutral "ability" index, and the ratio of the human capital rental rate to the price of associated inputs, and varies inversely with the discount rate, deterioration rate, and initial human capital stock.	en_US
dc.format.extent	1584967 bytes
dc.format.mimetype	application/pdf
dc.language.iso	en_US
dc.publisher	The Journal of Political Economy	en_US
dc.subject	formal schooling	en_US
dc.subject	market endowment	en_US
dc.title	Full-Time Schooling in Life-Cycle Models of Human Capital Accumulation	en_US
dc.type	Journal Article	en_US
dc.department	Economics