eprintid: 10089197
rev_number: 19
eprint_status: archive
userid: 608
dir: disk0/10/08/91/97
datestamp: 2020-01-09 12:10:36
lastmod: 2021-11-23 23:44:13
status_changed: 2020-01-09 12:10:36
type: article
metadata_visibility: show
creators_name: Abbott, B
creators_name: Gallipoli, G
creators_name: Meghir, C
creators_name: Violante, GL
title: Education Policy and Intergenerational Transfers in Equilibrium
ispublished: pub
divisions: UCL
divisions: B03
divisions: C03
divisions: F24
note: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions.
abstract: We examine the equilibrium effects of college financial aid policies building an overlapping-generations life cycle model with education, labor supply, and saving decisions. Cognitive and noncognitive skills of children depend on parental education and skills and affect education and labor market outcomes. Education is funded by parental transfers that supplement grants, loans, and student labor supply. Crowding out of parental transfers by government programs is sizable and cannot be ignored. The current system of federal aid improves long-run welfare by 6 percent. More generous ability-tested grants would increase welfare and dominate both an expansion of student loans and a labor tax cut.
date: 2019-12
date_type: published
publisher: UNIV CHICAGO PRESS
official_url: https://doi.org/10.1086/702241
oa_status: green
full_text_type: pub
language: eng
primo: open
primo_central: open_green
verified: verified_manual
elements_id: 1738010
doi: 10.1086/702241
lyricists_name: Meghir, Constantine
lyricists_id: CHDME77
actors_name: Flynn, Bernadette
actors_id: BFFLY94
actors_role: owner
full_text_status: public
publication: Journal of Political Economy
volume: 127
number: 6
pagerange: 2569-2624
pages: 56
citation:        Abbott, B;    Gallipoli, G;    Meghir, C;    Violante, GL;      (2019)    Education Policy and Intergenerational Transfers in Equilibrium.                   Journal of Political Economy , 127  (6)   pp. 2569-2624.    10.1086/702241 <https://doi.org/10.1086/702241>.       Green open access   
 
document_url: https://discovery.ucl.ac.uk/id/eprint/10089197/1/702241.pdf