| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12451 |
| DP12451 The Human Capital Stock: A Generalized Approach. Comment | |
| Francesco Caselli; Antonio Ciccone | |
| 发表日期 | 2017-11-21 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Jones (2014) considers development accounting when workers with different schooling are imperfect substitutes. His main result is that, using plausible values for the elasticity of substitution between workers with different educational attainment, measured human capital variation can be boosted to the point that factors of production account for the totality of the variation in income across countries. We show that the amplification of cross-country human capital differences achieved by Jones, and hence his success at removing the unexplained component of income differences, is entirely due to an assumption that the relative wage of skilled workers is solely determined by attributes of workers (once the supply of skilled workers is accounted for). If, as we argue, skill premia are also influenced by technology, institutions, and other features of the economic environment, cross-country differences in human capital as measured by Jones will embed differences in these technological, institutional, and other attributes. As a result, Jones's conclusion that human capital can account for all the variation in income across countries is unwarranted. |
| 主题 | Development Economics ; Macroeconomics and Growth |
| URL | https://cepr.org/publications/dp12451 |
| 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/541262 |
| 推荐引用方式 GB/T 7714 | Francesco Caselli,Antonio Ciccone. DP12451 The Human Capital Stock: A Generalized Approach. Comment. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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