Economic Policy and Equality of Opportunity
Bibliographic Data
| ID | 9720221 |
|---|---|
| Authors | Sang Yoon Lee (0000-0001-5943-8881, Toulouse School of Economics, corresponding author), Ananth Seshadri (University of Wisconsin–Madison) |
| Year | 2018 |
| Volume | 128 |
| Issue | 612 |
| Pages | F114-F151 |
| Publication date | 2018-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12480 |
| OpenAlex | W2189242084 |
| Language | EN |
| References cited | 54 |
We employ equality of opportunity (EOP) definitions that have appeared in the philosophical literature on distributive justice to a quantitative economic model that incorporates human capital investment and luck, within and across generations. The model is calibrated to the U.S. in 1990, and we operationalize EOP definitions by using children’s state space for their recursive decision problems as circumstances.We show that when comparing measures of EOP, the quantitative implications differ substantially depending on one’s view of parental luck and children’s outcomes. In counterfactual experiments, we find that education subsidies increase utilitarian welfare and decrease overall inequality, but do little to promote EOP. This is because on the one hand, if one takes the view that intergenerational investments should be rewarded, there is little room for improvement to begin with. But even when one takes the view that they should not be rewarded, much stronger redistribution is needed for the policies to have a quantitative impact
Distributive justice · Economic growth · Economic Justice · Economics · Human capital · Inequality · Labour economics · Luck · Market economy · Microeconomics · Political science · Positive economics · Public economics · Redistribution (election · Subsidy · Gender, Labor, and Family Dynamics · Income, Poverty, and Inequality · Intergenerational and Educational Inequality Studies
Macroeconomic Priorities
Real National Income
The elasticity of taxable income
Equity and Efficiency in Human Capital Investment
Informational bases of alternative welfare approaches
Uninsured Idiosyncratic Risk and Aggregate Saving
The Technology of Skill Formation
Self-Ownership and Equality
Equality and Efficiency
Equal Opportunity or Equal Social Outcome?
Equality and equal opportunity for welfare
Against Rawlsian Equality of Opportunity
Self-Ownership and World Ownership
A pragmatic theory of responsibility for the egalitarian planner
On the Currency of Egalitarian Justice
Collective Choice and Social Welfare
Freedom in Economics
Chapter 7. Equality of Opportunity
Equality of Opportunity
Estimating the Technology of Cognitive and Noncognitive Skill Formation
Consistent Tests for Stochastic Dominance
On the measurement of inequality
Intergenerational Transfers and the Distribution of Earnings
Human Capital and the Rise and Fall of Families
Fortunate Sons
The Measurement of Inequality of Opportunity
Equality of opportunity and luck
Inequality of Opportunities vs. Inequality of Outcomes
The Production of Human Capital and the Life Cycle of Earnings
The Correlation of Wealth across Generations
Income and Wealth Heterogeneity in the Macroeconomy
On the Intergenerational Transmission of Economic Status
Women's Schooling, Home Teaching, and Economic Growth
Taxing Top Earners
Transfers to Households with Children and Child Development
Income Inequality, Equality of Opportunity, and Intergenerational Mobility
Would Perfect Mobility be Perfect
| Citation velocity | historical |
|---|---|
| Highly cited | No |