@TechReport{iza:izadps:dp338,
            	author={Bell, Clive and Gersbach, Hans},
            	title={Child Labor and the Education of a Society},
            	year={2001},
	month={Aug},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={338},
            	url={https://www.iza.org/index.php/publications/dp338},
	abstract={We examine economic growth, inequality and education when the wellspring of growth is the formation of human capital through a combination of the quality of child-rearing and formal schooling. The existence of multiple steady states is established, including a poverty trap, wherein children work full-time and no human capital accumulation takes place, with continuous growth at an asymptotically steady rate as an alternative. We show that a society can escape from the poverty trap into a condition of continuous growth through a program of taxes and transfers. Temporary inequality is a necessary condition to escape in finite time, but long-run inequalities are avoidable provided sufficiently heavy, but temporary taxes can be imposed on the better-off. Programs aiming simply at high attendance rates in the present can be strongly non-optimal.},
	keywords={growth and inequality;education;human capital;Child labor;redistributive policies;poverty traps},
            }