Cohort size and schooling choice

Christopher Flinn

    Research output: Contribution to journalArticle

    Abstract

    We develop a perfect-foresight overlapping generations model to investigate the effects of cohort size on schooling decisions and cohort-specific welfare measures. A set of sufficient conditions are presented which ensure the existence of an unique sequence of human capital rental rates and schooling choices for any sequence of cohort sizes. We calibrate the partial equilibrium model using data on schooling investments and aggregate wages over the period 1920 through 1980, and use the parameters to assess the magnitude of lifetime cohort wealth and schooling elasticities computed with respect to the entire cohort size sequence. We find that the equilibrium response of schooling to perturbations in the cohort size sequence is small, so that the adverse effects of increases in the size of own and neighboring cohorts on cohort wealth are not significantly migrated by adjustments in schooling investments within our modelling framework.

    Original languageEnglish (US)
    Pages (from-to)31-55
    Number of pages25
    JournalJournal of Population Economics
    Volume6
    Issue number1
    DOIs
    StatePublished - Feb 1993

    Fingerprint

    equilibrium model
    human capital
    wage
    welfare
    Cohort
    Schooling
    Wealth

    ASJC Scopus subject areas

    • Demography
    • Economics and Econometrics

    Cite this

    Cohort size and schooling choice. / Flinn, Christopher.

    In: Journal of Population Economics, Vol. 6, No. 1, 02.1993, p. 31-55.

    Research output: Contribution to journalArticle

    Flinn, Christopher. / Cohort size and schooling choice. In: Journal of Population Economics. 1993 ; Vol. 6, No. 1. pp. 31-55.
    @article{4551a70e591743669a845c91d6592d8b,
    title = "Cohort size and schooling choice",
    abstract = "We develop a perfect-foresight overlapping generations model to investigate the effects of cohort size on schooling decisions and cohort-specific welfare measures. A set of sufficient conditions are presented which ensure the existence of an unique sequence of human capital rental rates and schooling choices for any sequence of cohort sizes. We calibrate the partial equilibrium model using data on schooling investments and aggregate wages over the period 1920 through 1980, and use the parameters to assess the magnitude of lifetime cohort wealth and schooling elasticities computed with respect to the entire cohort size sequence. We find that the equilibrium response of schooling to perturbations in the cohort size sequence is small, so that the adverse effects of increases in the size of own and neighboring cohorts on cohort wealth are not significantly migrated by adjustments in schooling investments within our modelling framework.",
    author = "Christopher Flinn",
    year = "1993",
    month = "2",
    doi = "10.1007/BF00164337",
    language = "English (US)",
    volume = "6",
    pages = "31--55",
    journal = "Journal of Population Economics",
    issn = "0933-1433",
    publisher = "Springer New York",
    number = "1",

    }

    TY - JOUR

    T1 - Cohort size and schooling choice

    AU - Flinn, Christopher

    PY - 1993/2

    Y1 - 1993/2

    N2 - We develop a perfect-foresight overlapping generations model to investigate the effects of cohort size on schooling decisions and cohort-specific welfare measures. A set of sufficient conditions are presented which ensure the existence of an unique sequence of human capital rental rates and schooling choices for any sequence of cohort sizes. We calibrate the partial equilibrium model using data on schooling investments and aggregate wages over the period 1920 through 1980, and use the parameters to assess the magnitude of lifetime cohort wealth and schooling elasticities computed with respect to the entire cohort size sequence. We find that the equilibrium response of schooling to perturbations in the cohort size sequence is small, so that the adverse effects of increases in the size of own and neighboring cohorts on cohort wealth are not significantly migrated by adjustments in schooling investments within our modelling framework.

    AB - We develop a perfect-foresight overlapping generations model to investigate the effects of cohort size on schooling decisions and cohort-specific welfare measures. A set of sufficient conditions are presented which ensure the existence of an unique sequence of human capital rental rates and schooling choices for any sequence of cohort sizes. We calibrate the partial equilibrium model using data on schooling investments and aggregate wages over the period 1920 through 1980, and use the parameters to assess the magnitude of lifetime cohort wealth and schooling elasticities computed with respect to the entire cohort size sequence. We find that the equilibrium response of schooling to perturbations in the cohort size sequence is small, so that the adverse effects of increases in the size of own and neighboring cohorts on cohort wealth are not significantly migrated by adjustments in schooling investments within our modelling framework.

    UR - http://www.scopus.com/inward/record.url?scp=0027349057&partnerID=8YFLogxK

    UR - http://www.scopus.com/inward/citedby.url?scp=0027349057&partnerID=8YFLogxK

    U2 - 10.1007/BF00164337

    DO - 10.1007/BF00164337

    M3 - Article

    C2 - 12285974

    AN - SCOPUS:0027349057

    VL - 6

    SP - 31

    EP - 55

    JO - Journal of Population Economics

    JF - Journal of Population Economics

    SN - 0933-1433

    IS - 1

    ER -