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Composition of Public Education Expenditures and Human Capital Accumulation

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Figure

Figure 1: Feature of H(x)
Figure 2: Welfare of individuals with hit ∈ [ H, H¯(x∗))
Figure 4 (a) sketches
Figure 4: Dynamics of hmt and hit in the case of H˜ ≤ h∗1
+2

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