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Globalization and Human Capital Formation

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This paper compares education investment in closed and open economies without government and with a benevolent government. The fact that the time consistency problem in taxation can make labor mobility beneficial even if governments are fully benevolent – which is known from other contexts – is shown to be true in the economies considered. It is further shown that labor mobility is unambiguously beneficial if private insurance for human capital investment is available.

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Fredrik Andersson, Kai A. Konrad

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Adapt according to the presented license agreement and reference the original author.