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Evolution Of The Income Distribution And Education Vouchers

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  • CAUCUTT, ELIZABETH M.

Abstract

In this paper, I study the effect that switching to a voucher system of educational finance has on the distribution of income. The model is calibrated to U.S. data, and simulated for two different forms of education finance: a voucher system and a completely private system of schools. All voucher policies considered result in welfare gains and reductions in income inequality. A private system entails a welfare loss and an increase in income inequality. The more important the peer group is to future income, the smaller the welfare gains and reductions in inequality associated with voucher systems, and the greater the welfare cost and increase in inequality associated with a private system.

Suggested Citation

  • Caucutt, Elizabeth M., 2004. "Evolution Of The Income Distribution And Education Vouchers," Macroeconomic Dynamics, Cambridge University Press, vol. 8(2), pages 226-249, April.
    • Handle: RePEc:cup:macdyn:v:8:y:2004:i:02:p:226-249_03
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    Cited by:

    1. John Creedy, 2006. "Education Vouchers: Means Testing Versus Uniformity," Department of Economics - Working Papers Series 978, The University of Melbourne.
    2. John Creedy, 2010. "Education Vouchers and Labour Supply," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 13(2), pages 155-173.
    3. Vanesa Jorda & Jose M. Alonso, 2020. "What works to mitigate and reduce relative (and absolute) inequality?: A systematic review," WIDER Working Paper Series wp-2020-152, World Institute for Development Economic Research (UNU-WIDER).

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