Endogenous Growth From The Externalities Of Human Capital
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Endogenous Growth From The Externalities Of Human Capital
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Author : Mario Alberto Gaviria Rios
language : en
Publisher:
Release Date : 2007
Endogenous Growth From The Externalities Of Human Capital written by Mario Alberto Gaviria Rios and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
A model of endogenous growth is developed in this work, based on Robert Lucas's approach (1988), considering two effects regarding accumulating human capital: each person's internal impact on productivity and the external impact regarding their contribution to the other production factors' productivity. Lucas' proposal is complemented by breaking the technological factor down into two components (exogenous and endogenous) according to human capital's interaction with technological change.
The Forces Of Economic Growth
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Author : Alfred Greiner
language : en
Publisher: Princeton University Press
Release Date : 2016-06-28
The Forces Of Economic Growth written by Alfred Greiner and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-28 with Business & Economics categories.
In economics, the emergence of New Growth Theory in recent decades has directed attention to an old and important problem: what are the forces of economic growth and how can public policy enhance them? This book examines major forces of growth--including spillover effects and externalities, education and formation of human capital, knowledge creation through deliberate research efforts, and public infrastructure investment. Unique in emphasizing the importance of different forces for particular stages of development, it offers wide-ranging policy implications in the process. The authors critically examine recently developed endogenous growth models, study the dynamic implications of modified models, and test the models empirically with modern time series methods that avoid the perils of heterogeneity in cross-country studies. Their empirical analyses, undertaken with newly constructed time series data for the United States and some core countries of the Euro zone, show that models containing scale effects, such as the R&D model and the human capital model, are compatible with time series evidence only after considerable modifications and nonlinearities are introduced. They also explore the relationship between growth and inequality, with particular focus on technological change and income disparity. The Forces of Economic Growth represents a comprehensive and up-to-date empirical time series perspective on the New Growth Theory.
Human Capital And Economic Growth
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Author : Andreas Savvides
language : en
Publisher: Stanford University Press
Release Date : 2008-10-10
Human Capital And Economic Growth written by Andreas Savvides and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-10 with Business & Economics categories.
This book provides an in-depth investigation of the link between human capital and economic growth. The authors take an innovative approach, examining the determinants of economic growth through a historical overview of the concept of human capital. The text fosters a deep understanding of the connection between human capital and economic growth through the exploration of different theoretical approaches, a review of the literature, and the application of nonlinear estimation techniques to a comprehensive data set. The authors discuss nonparametric econometric techniques and their application to estimating nonlinearities—which has emerged as one of the most salient features of empirical work in modeling the human capital-growth relationship, and the process of economic growth in general. By delving into the topic from theoretical and empirical standpoints, this book offers an insightful new view that will be extremely useful for scholars, students, and policy makers.
Human Capital Externalities Trade And Economic Growth
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Author : David Gould
language : en
Publisher:
Release Date : 1993
Human Capital Externalities Trade And Economic Growth written by David Gould and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Economic development categories.
Estimated Human Capital Externalities In An Endogenous Growth Framework
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Author : James R. Malley
language : en
Publisher:
Release Date : 2019
Estimated Human Capital Externalities In An Endogenous Growth Framework written by James R. Malley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
To better understand the quantitative implications of human capital externalities at the aggregate level, we estimate a two-sector endogenous growth model with knowledge spill-overs. To achieve this, we account for trend growth in a model consistent fashion and employ a Markov-chain Monte-Carlo (MCMC) algorithm to estimate the model's posterior parameter distributions. Using U.S. quarterly data from 1964-2017, we find significant positive externalities to aggregate human capital. Our analysis further shows that eliminating this market failure leads to sizeable increases in education-time, endogenous growth and aggregate welfare.
Ducation In Endogenous Growth Models
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Author : Joao Manuel Lucas dos Santos Medeiros
language : en
Publisher: Presses univ. de Louvain
Release Date : 2003
Ducation In Endogenous Growth Models written by Joao Manuel Lucas dos Santos Medeiros and has been published by Presses univ. de Louvain this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
This PhD thesis consists of four papers, whose major aim is to analyse the role of education in an endogenous growth setting. The theoretical framework uses computable OLG models, where the behaviour of individuals is modelled within a lifecycle framework. Firstly, in order to build computable general equilibrium models that are reliable for policy analysis, it is necessary to reproduce all major stylised facts that characterise lifecycle profiles, notably: i) the marked decline in consumption around retirement age; and, ii) in old age, financial wealth data drawn from surveys run down at a slower pace than that implied by usual formulations of the lifecycle theory of consumption. In the first paper, it is argued that a lifecycle framework can reproduce the above-mentioned facts if one assumes: i) uncertainty in the duration of life in a model with imperfect annuity markets; and, ii) existence of a “sufficiently” strong bequest motive. Secondly, it is shown that education choices can play a major role in dampening the negative impact on economic growth of a decline in fertility. In the second paper, it is found that the growth assumption (endogenous versus exogenous) does matter. In an endogenous growth model driven by education, a negative demographic shock represents an “investment opportunity” in education. The rise in education, together with the externalities in human capital formation bring about a permanent increase in labour productivity. Thirdly, in an OLG model with an externality in the education sector, it is important to investigate the set of policies that decentralises the social optimum, depending on some major model assumptions. In the third paper, using calibrations that assume altruism, the results suggest that optimal policies involve basically: a) an education subsidy; and, b) a PAYG pension. Fourthly, given the complementary of education and R&D, it is important to investigate if the adoption of optimal policies to correct a number of externalities causes a leverage effect on growth and welfare. The framework developed in the fourth paper provides for a numerical evaluation of the relative importance of two sources of inefficiency, namely: i) a “market-power” distortion, resulting from the mark-up pricing of intermediate goods; ii) versus the inefficiency in the allocation of resources caused by various “externalities”, affecting the education and R&D sectors. Overall, the results obtained highlight the importance of treating human capital as an endogenous variable.
Human Capital And Public Policy In An Endogenously Growing Economy With Externalities
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Author : Manachaya Uruyos
language : en
Publisher:
Release Date : 2003
Human Capital And Public Policy In An Endogenously Growing Economy With Externalities written by Manachaya Uruyos and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Economic development categories.
Human Capital In A Global And Knowledge Based Economy
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Author : Ángel de la Fuente
language : en
Publisher:
Release Date : 2003
Human Capital In A Global And Knowledge Based Economy written by Ángel de la Fuente and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Economic development categories.
The Synergy Theory On Economic Growth Comparative Study Between China And Developed Countries
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Author : Jianhua Liu
language : en
Publisher: Springer
Release Date : 2018-09-21
The Synergy Theory On Economic Growth Comparative Study Between China And Developed Countries written by Jianhua Liu and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-21 with Business & Economics categories.
The book constructs the Synergy Theory, a new theory of economic growth and calculation methodology. The book involves empirical comparative study on economic growth between China and the 14 developed countries, and on the basis of the synergy theory, divides GDP into labor compensation, capital income, and synergistic benefits, further establishes the new empirical model including the major determined factors of economic growth, such as growth of physical capital stock, growth of investment in physical capital, improvement of science and technology, improvement of human capital quality, labor force growth, institutional innovation and economic externalies. Subsequently, it uses the method of Data Envelopment Analysis to calculate the contribution of institutional innovation to economic growth, and it also focuses on the analysis of the determining factors of economic growth. Based on the analysis above, the new theory has been tested and the countermeasures and suggestions involving China's innovation-driven economy have been proposed.
The Uzawa Lucas Endogenous Growth Model
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Author : Paolo Mattana
language : en
Publisher: Routledge
Release Date : 2017-11-30
The Uzawa Lucas Endogenous Growth Model written by Paolo Mattana and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-30 with Business & Economics categories.
Using state of the art mathematical techniques this book provides a complete characterization of the Uzawa-Lucas growth model. In his path-breaking contribution on the 'Mechanics of Economic Growth' Lucas suggested that human capital is the key variable through which technical change is most likely to occur and (by taking some initial intuitions of Uzawa a step further) proposed a two-sector capital accumulation growth model where human capital is allowed to enter a neo-classical-style production structure in multiplicative terms. In this book Paolo Mattana fully explores the dynamic possibilities of the model from both the market and the centralized perspective. A critical evaluation of the inefficiency in the market economy is also provided.
