Educational Financing and Lifetime Earnings
构建并估计了一个最优教育融资决策的动态规划模型，发现短期父母现金转移对毕业后的终身收入影响不显著，但显著影响在校期间借贷或工作的选择及终身消费水平。
This paper formulates and estimates a dynamic programming model of optimal educational financing decisions. The main purpose of the paper is to measure the effect of short-term parental cash transfers, received during school, on educational borrowing and in-school work decisions, and on post-graduation lifetime earnings. The estimated parameters of the model imply that parental cash transfers do not significantly influence post-graduation lifetime earnings. Long-term factors such as family background and prior human capital investments are more important. Parental cash transfers do, however, significantly determine the decision to borrow or work during school and the level of lifetime consumption. Copyright 2004, Wiley-Blackwell. (This abstract was borrowed from another version of this item.)