T he... rst panel can be the resu Itofthe fol Owing parameters
|
P arameteιs |
V alues |
|
° _ |
cT6 |
|
qK |
15 |
|
x |
10 |
|
i |
1.05 |
|
h ~ |
0.7 |
|
w |
1 |
|
± ~ |
4. 2857 |
which give rise tothefollowingvaluesforkey variables in the model:
|
V alues | |
|
w + ±h |
^4 |
|
° e;q |
0.733 |
|
° e;nq |
0.233 |
T herefore, non-quali.ed workers are53.66% ofprogenitors, non-quali.ed
entrepreneurs 16.33%, quali.ed workers 21.99%. Thequali.ed percentageof
the population is 3%. M ostofthe agents are therefore non-quali.ed workers
and mostofthe quali.ed agents are entrepreneurs.
Thesecond scenariois theresult, ceteris paribus, ofadecreasein thecost
ofeducation, which implies a decrease ofquali.ed entrepreneurs’ pro.tand
ofquali.ed workers’wage. Vice versa the decrease in the costofeducation
implies an increase in the thιehod CvcI cfιnelαency. A naogously the
share of entrepreneurs among quali.ed people increases. The parameters
which determine this scenarioare the following:
|
P arameteιs |
V alues |
|
° _ |
01 |
|
qK |
15 |
|
x |
10 |
|
i |
1.05 |
|
h ~ |
0.5 |
|
w |
1 |
|
± ~ |
4. 2857 |
From these parameters itfollows that:
13