On human capital formation with exit options
On human capital formation with exit options
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"Katz and Rapoport (2005) conclude that with linear production technology and the possibility of unilateral migration, region-specific shocks may increase the average level of education. Previously, Poutvaara (2000) derived a corresponding result with Cobb-Douglas technology and migration which may go in both directions. This paper shows that the exit option may reduce human capital formation with a quadratic production technology"--Forschungsinstitut zur Zukunft der Arbeit web site.
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