| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w24141
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| 来源ID | Working Paper 24141
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| The Importance of Education and Skill Development for Economic Growth in the Information Era |
| Charles R. Hulten
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| 发表日期 | 2017-12-25
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| 出版年 | 2017
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| 语种 | 英语
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| 摘要 | The neoclassical growth accounting model used by the BLS to sort out the contributions of the various sources of growth in the U.S. economy accords a relatively small role to education. This result seems at variance with the revolution in information technology and the emergence of the “knowledge economy”, or with the increase in educational attainment and the growth in the wage premium for higher education. This paper revisits this result using “old fashioned” activity analysis, rather than the neoclassical production function, as the technology underlying economic growth. An important feature of this activity-based technology is that labor and capital are strong complements, and both inputs are therefore necessary for the operation of an activity. The composition of the activities in operation at any point in time is thus a strong determinant of the demand for labor skills, and changes in the composition driven by technical innovation are a source of the increase in the demand for more complex skills documented in the literature. A key result of this paper is that the empirical sources-of-growth results reported by BLS could equally have been generated by the activity-analysis model. This allows the BLS results to be interpreted in a very different way, one that assigns a greater importance to labor skills and education. |
| 主题 | Health, Education, and Welfare
; Education
; Labor Economics
; Labor Supply and Demand
; Development and Growth
; Growth and Productivity
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| URL | https://www.nber.org/papers/w24141
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581815
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推荐引用方式
GB/T 7714 |
Charles R. Hulten. The Importance of Education and Skill Development for Economic Growth in the Information Era. 2017.
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文件名：
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w24141.pdf
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格式：
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Adobe PDF
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