| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11825 |
| DP11825 Human Capital Acquisition and Occupational Choice: Implications for Economic Development | |
| Marti Mestieri; Robert M. Townsend | |
| 发表日期 | 2017-02-02 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Using household-level data from Mexico we document patterns among schooling, entrepreneurial decisions and household characteristics such as assets, talent of household members and age of the household head. Motivated by our findings, we develop a heterogeneous-agent, incomplete- markets, overlapping-generations dynasty model. Households jointly decide over their life cycle on (i) kids’ human capital investments (schooling) and (ii) parents’ entry, exit and investment into alternative entrepreneurial modes (subsistence and modern). With financial constraints all of these are co-determined. A calibrated version of our model can account for the broad correlation patterns uncovered in the data within and across generations, e.g., a non-monotonic relationship between educational choices and assets across occupations, growth in profits and employment for modern firms only, and dynastic persistence across generations in education and wealth. Endogenous human capital acquisition is a key driver of inequality and intergenerational persistence. Eliminating this channel would decrease the top 10% income share by 47%. Eliminating within-period borrowing constraints would increase average household expenditure by 7.1% and benefit the middle class, reducing top and bottom expenditure shares. It would also reduce by 28% the correlation between household assets and kids’ schooling levels. |
| 主题 | Development Economics ; Macroeconomics and Growth |
| 关键词 | Human capital Inequality entrepreneurship Occupational choice Mexico |
| URL | https://cepr.org/publications/dp11825 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540638 |
| 推荐引用方式 GB/T 7714 | Marti Mestieri,Robert M. Townsend. DP11825 Human Capital Acquisition and Occupational Choice: Implications for Economic Development. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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