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ディスカッション／ワーキング・ペーパー

text

Discussion Papers In Economics And Business. 2025, 25-14, p. 1-26

Health and education investments in human capital, the impacts on fertility and economic growth

Zhehao, Wang

Graduate School of Economics, The University of Osaka

英語

text

2025-11

https://www2.econ.osaka-u.ac.jp/econ_society/dp/2514.pdf

In this paper, we explore the impacts of government policies on endogenous fertility and economic growth in a full-fledged framework with private and public spending on both health and education. First, we show that excessive government expenditure on education and insufficient government expenditure on health may lead to zero or even negative economic growth. Second, in our specified model, the income tax rate is shown to have no impact on fertility. Third, we determine the income tax rate and the fraction of revenue used for education expenditure to maximize the balanced growth rate. Furthermore, it is demonstrated that larger public health expenditure on children leads to greater economic growth. Moreover, the welfare-maximizing tax rate and shares of public expenditure allocated to children’s health and education are found to be smaller than the growth-maximizing counterparts. Finally, the welfare-maximizing tax rate exhibits a non-monotonic relationship with social discount factor.

103044

Health and education investments in human capital, the impacts on fertility and economic growth

Zhehao, Wang

Graduate School of Economics, The University of Osaka

英語

2025-11

Discussion Papers In Economics And Business

25-14

1

26

https://hdl.handle.net/11094/103044

https://www2.econ.osaka-u.ac.jp/econ_society/dp/2514.pdf