Public education and income distribution: a dynamic quantitative evaluation of education-finance reform
Article Abstract:
Transformation of the educational-finance from local control to state control to increase public spending on each student showed that such a scheme can increase welfare by 3.2% of steady-state income. The welfare is incrementally increased as more students enrol in public education and has the added benefit of decreasing public expenditure on education. Centralization of education financing on the state level is an optimization of the human capital investments approach.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Michigan's recent school finance reforms: a preliminary report
Article Abstract:
Michigan has traditionally relied on local and property taxes as financial sources for educational expenditures. However, legislature passed a bill in 1993 that disallowed further reliance on the tax system for school finance. Voters then selected a revenue replacement option where the state shifted to a modified foundation system. The new system gave Michigan significant interdistrict variation in school financing and set flexible limits to total school spending.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Different approaches for dealing with social security
Article Abstract:
The 1996 report of the Social Security and Medical Trustees reveal the need to develop radical reforms in the social security system of the US, particularly the system's pay-as-you-go financing (PAYG). Various methods in dealing with the system are presented, such as maintenance of social security benefits, creation of individual accounts and the development of Personal Security Accounts that would privatize social security.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Capital accumulation and income distribution as the outcome of a dynamic gain. On the computability of Nash equilibria
- Abstracts: Double auction dynamics: structural effects of non-binding price controls. Price uncertainty and consumer welfare in an intertemporal setting
- Abstracts: Dynamic effects of trade liberalization and currency overvaluation under conditions of increasing returns. Fairness as a source of hysteresis in employment and relative wages
- Abstracts: Vertical differentiation and the distribution of income. Training and lifetime income. Conditional cash transfers, public provision of private goods, and income redistribution
- Abstracts: Vertical separation and horizontal mergers. Network competition, product quality, and market coverage in the presence of network externalities