Literaturnachweis - Detailanzeige
| Autor/in | Woglom, Geoffrey |
|---|---|
| Titel | Endowment Spending Rates, Intergenerational Equity and the Sources of Capital Gains |
| Quelle | In: Economics of Education Review, 22 (2003) 6, S.591-601 (11 Seiten)Infoseite zur Zeitschrift
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| Sprache | englisch |
| Dokumenttyp | gedruckt; online; Zeitschriftenaufsatz |
| ISSN | 0272-7757 |
| DOI | 10.1016/S0272-7757(03)00026-8 |
| Schlagwörter | Endowment Funds; Educational Finance; Higher Education; Risk; Expenditures; Financial Policy; Investment; Economic Factors; Educational History |
| Abstract | This paper analyzes how James Tobin's widely cited concept of "intergenerational equity" for university endowments relates to the economic concepts of intertemporal substitutability and risk aversion. I show that Tobin's concept of intergenerational equity is a very special case of intertemporal substitutability; a special case that implies very low tolerance for risk. Using the more general case, I show that the observed reduction in university spending rates during the 1990s can be viewed as a reasonable response to a period of non-recurring capital gains. (Author). |
| Anmerkungen | Elsevier. 6277 Sea Harbor Drive, Orlando, FL 32887-4800. Tel: 877-839-7126; Tel: 407-345-4020; Fax: 407-363-1354; e-mail: usjcs@elsevier.com; Web site: http://www.elsevier.com |
| Erfasst von | ERIC (Education Resources Information Center), Washington, DC |
| Update | 2017/4/10 |
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