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- Title
Allocating Government Education Expenditures Across K-12 and College Education.
- Authors
Blankenau, William; Cassou, Steven; Ingram, Beth
- Abstract
As of the late 1990s, public spending on education in the US comprised approximately 7.1% of GDP; about 60% of that support was directed at K-12 education and the remainder at college education. We investigate the welfare and output implications of this spending in a theoretical model in which agents of differential innate ability choose whether to pursue higher education. Higher ability agents support greater expenditures at both the K-12 and college levels. When public education expenditures are low, all agents prefer that spending be directed solely to K-12 education; when expenditures are high, all prefer that some spending be allocated to college education.
- Subjects
UNITED States; PUBLIC finance; EDUCATION; PUBLIC spending; GOVERNMENT aid to education; FEDERAL aid to education; GROSS domestic product; POSTSECONDARY education
- Publication
Economic Theory, 2007, Vol 31, Issue 1, p85
- ISSN
0938-2259
- Publication type
Article
- DOI
10.1007/s00199-006-0084-8