This note analyzes the effect of parental income variability on investments in education when capital markets are imperfect. Our empirical results show that educational choices might act as a buffer choice when the environment is uncertain.
Liquidity Constraints, Uncertain Parental Income and Human Capital Accumulation
DEVICIENTI, Francesco Serafino Michele;ROSSI, Mariacristina
2013-01-01
Abstract
This note analyzes the effect of parental income variability on investments in education when capital markets are imperfect. Our empirical results show that educational choices might act as a buffer choice when the environment is uncertain.
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