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dc.contributor.authorPaserman, M. Danieleen_US
dc.date.accessioned2018-03-28T17:04:20Z
dc.date.available2018-03-28T17:04:20Z
dc.date.issued2017-03-01
dc.identifierhttp://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000394727200009&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=6e74115fe3da270499c3d65c9b17d654
dc.identifier.citationM Daniele Paserman. 2017. "Using the two-period model to understand investment in human capital." National Tax Journal, Volume 70, Issue 1, pp. 185 - 204 (20).
dc.identifier.issn0028-0283
dc.identifier.issn1944-7477
dc.identifier.urihttps://hdl.handle.net/2144/27884
dc.description.abstractIn many textbooks, the decision to invest in human capital is presented in terms of the present discounted value of the lifetime stream of costs and benefits associated with the investment. I argue that this approach, while delivering some useful insights, also conflates subjective discount rates and market interest rates, obfuscates the role of credit market imperfections, and makes difficult the analysis of policy interventions and the effects of external shocks on human capital investment. I show instead how a simple two-period model can deliver the main insights about investment in human capital and is flexible enough to be used to model a wide variety of policy interventions.en_US
dc.format.extentp. 185 - 204en_US
dc.languageEnglish
dc.publisherNATL TAX ASSOCen_US
dc.relation.ispartofNATIONAL TAX JOURNAL
dc.subjectHuman capitalen_US
dc.subjectCapital market imperfectionsen_US
dc.subjectTime preferencesen_US
dc.subjectStudent loansen_US
dc.subjectSocial sciencesen_US
dc.subjectBusiness, financeen_US
dc.subjectEconomicsen_US
dc.subjectBusiness & economicsen_US
dc.subjectClimate changeen_US
dc.subjectAccounting, auditing and accountabilityen_US
dc.subjectLawen_US
dc.titleUsing the two-period model to understand investment in human capitalen_US
dc.typeArticleen_US
dc.identifier.doi10.17310/ntj.2017.1.08
pubs.elements-sourceweb-of-scienceen_US
pubs.notesEmbargo: No embargoen_US
pubs.organisational-groupBoston Universityen_US
pubs.organisational-groupBoston University, College of Arts & Sciencesen_US
pubs.organisational-groupBoston University, College of Arts & Sciences, Department of Economicsen_US
pubs.publication-statusPublisheden_US
dc.identifier.orcid0000-0003-0177-748X (Paserman, M Daniele)


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