【主讲】Xiaoyan Youderian (Xavier University)
【主题】Parental Time Investment in Early Education and Endogenous Labor Supply
【时间】2015年6月1日 (周一) 15：30-17：00
【地点】上海财经大学经济学院楼801室
【语言】英文
【摘要】This paper considers parental time investment in early childhood as an education input and explores the impact of early education policies on labor supply and human capital. I develop a twelve-period overlapping generations model where human capital formation is a multi-stage process. An agent's human capital is accumulated through early and late childhood. Parents make income and time allocation decisions in response to government expenditures and parental leave policies. The model is calibrated to the U.S. economy so that the generated data matches some key aggregate statistics and parental education investment behavior in the U.S. The general equilibrium environment shows that subsidizing private education spending is most effective in increasing human capital. This policy incentivizes parents to increase both physical and time investment. Direct government spending has a crowding-out effect on private spending and this effect is larger among the rich. As a result, inequality and income persistence decrease most with this policy. In addition, low-wage earners are most responsive to parental leave policy by working less and the increase in their human capital is relatively large.
