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Welfare impact of a ban on child labor.
ECONOMIC INQUIRY, no. 4 (2010): 1048-1064
This article presents a new rationale for imposing restrictions on child labor. In a standard overlapping generation model where parental altruism results in transfers that children allocate to consumption and education, the Nash-Cournot equilibrium results in suboptimal levels of parental transfers and does not maximize the average level...More
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