Estimated Human Capital Externalities In An Endogenous Growth Framework
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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.
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.
Human Capital R D And Competition In Macroeconomic Analysis
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Author : Erik Canton
language : en
Publisher:
Release Date : 2005
Human Capital R D And Competition In Macroeconomic Analysis written by Erik Canton and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Competition categories.
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 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.
Human Capital And Endogenous Growth In A Large Scale Life Cycle Model
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Author : Patricio Arrau
language : en
Publisher:
Release Date : 1989
Human Capital And Endogenous Growth In A Large Scale Life Cycle Model written by Patricio Arrau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Capital investments categories.
Life- cycle models of growth can yield a negative relation between population growth and income per capita growth, where the direction of causality goes from the exogenous rate of population growth to the endogenous rate of income growth. Tax policy can affect the proportion of human and physical capital in household portfolios. Tax policy that favors human capital over physical capital produces higher growth in per capita income.
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.
Human Capital Flight
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1994-12-01
Human Capital Flight written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-12-01 with Business & Economics categories.
This paper analyses the impact of government tax and subsidy policy on immigration of human capital and the effect of such immigration on growth and incomes. In the context of a two-country endogenous growth model with heterogeneous agents and human capital accumulation, we argue that human capital flight or “brain drain” arising out of wage differentials, say because of differences in income tax rates or technology, can bring about a reduction in the steady state growth rate of the country of emigration. Additionally, permanent difference in the growth rates as well as incomes between the two countries can occur making convergence unlikely. While in a closed economy, tax-financed increases in subsidy to education can have a positive effect on growth, such a policy can have a negative effect on growth when human capital flight is taking place. Since subsidizing higher education is more likely to induce substantial brain drain, it is likely to be inferior to subsidy to lower levels of education if growth is to be increased.
Perpetual Growth In An Aggregative Model With Endogenous Human Capital Accumulation
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Author : Công Nghê Truong
language : en
Publisher:
Release Date : 1995
Perpetual Growth In An Aggregative Model With Endogenous Human Capital Accumulation written by Công Nghê Truong and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Economic development categories.
