The Effects of Government Education Inputs on Macro-economy and Resident Welfare

Abstract

Abstract:

In this paper, we use dynamic CGE model to simulate the effects of different changes in the labor supply on macro-economy and resident welfare. We draw up the 2007 Social Accounting Matrix, turn different government education investment policies into different amounts of labor supply and simulate different variations of the junior, medium and senior labor supply in order to analyze the effects on macroeconomic and resident welfare. Our conclusions are as follows: under the current technological conditions, investing heavily in secondary education and enhancing the supply of medium labors will promote the level of residents' income and welfare; increased government spending in higher education will reduce sector output, inhibit the investment and consumption and reduce resident welfare; and in addition, reducing spending in higher education will drive the expansion of domestic demand.

Key words: government education inputs, macro-economy, resident welfare, dynamic computable general equilibrium

Chen Pinglu, Mao Jiabing, Hou Junhui. The Effects of Government Education Inputs on Macro-economy and Resident Welfare[J]. , 2018, 30(11): 14-25.

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