Higher education matters. No longer the exclusive province of a small intellectual elite, it is a key element in national economic performance. A modern economy needs a high-quality university system, and needs to make it accessible to everyone who can benefit. But mass higher education is expensive, and competes for public funds with pensions and health care, to say nothing of nursery education and schools. How to pay for higher education has thus become a central issue. This book tells the story of the UK debate, illustrating a head-on collision between the economic imperatives of...
Higher education matters. No longer the exclusive province of a small intellectual elite, it is a key element in national economic performance. A mode...
This topical volume tells the story of the UK debate on financing higher education, illustrating a head-on collision between the economic imperatives of student loans and regulated market forces, and the political imperative of 'free' higher education. In telling the story of the partnership of an economist and a political professional, the book offers lessons about both policy design and the politics of reform: of particular relevance to countries which have not yet addressed the issue, including many OECD countries, the more advanced post-communist reforming countries and, increasingly,...
This topical volume tells the story of the UK debate on financing higher education, illustrating a head-on collision between the economic imperativ...
This study recommends employing "human capital contracts" wherein students agree to pay a percentage of their income over time in exchange for funds to finance their education. The main difference between "human capital contracts" and loans is the variable value of the payments students make during the repayment period. Their financial consequences, of risk transfer from students to investors and increased information regarding future graduates' earnings, make the contracts an attractive alternative in funding higher education.
This study recommends employing "human capital contracts" wherein students agree to pay a percentage of their income over time in exchange for funds t...
This study recommends employing "human capital contracts" wherein students agree to pay a percentage of their income over time in exchange for funds to finance their education. The main difference between "human capital contracts" and loans is the variable value of the payments students make during the repayment period. Their financial consequences, of risk transfer from students to investors and increased information regarding future graduates' earnings, make the contracts an attractive alternative in funding higher education.
This study recommends employing "human capital contracts" wherein students agree to pay a percentage of their income over time in exchange for funds t...
Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis...
Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not ...
