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Title: Income Inequality, Education and Intergenerational Mobility: A General Equilibrium Approach
Keywords: Income Inequality, Intergenerational Mobility, Skilled-Biased Technological Change, Education , Fertility
Issue Date: 17-Aug-2011
Citation: GAO XINWEI (2011-08-17). Income Inequality, Education and Intergenerational Mobility: A General Equilibrium Approach. ScholarBank@NUS Repository.
Abstract: This paper assumes heterogeneous agents with different skill levels and establishes a general equilibrium framework to analyze the relationship between population dynamics, income inequality and intergenerational mobility. Childhood education level plays a key role in determining one¿s skill level in adulthood. With differentiated educational efficiency, skilled and unskilled families behave differently in fertility choice and decision of child¿s educational investment level. Analytical results confirm that the population will evolve to be more skilled with higher average income and lower fertility. At the same time, wage premium decreases and social mobility improves. Skilled-biased technological change (SBTC) has been heavily used to explain the wage premium recently. The model extension incorporating SBTC does bring new insight to our analysis. Numerical simulation shows that STBC completely changes the wage premium pattern and significantly influences the intergenerational mobility.
Appears in Collections:Master's Theses (Open)

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