Restuccia, Diego; Urrutia, Carlos - Centro de Investigación Económica (CIE), Departamento … - 2002
parents invest in early and college education of their children subject to borrowing constraints. Children differ exogenously … in innate abilities, which can be correlated with their parent's innate ability. An important feature of the environment … is that the quality of early education determines the probability of college completion. We calibrate a stationary …