Download or read book Human Capital and Endogenous Growth in a Large scale Life cycle Model written by Patricio Arrau and published by . This book was released on 1989 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Human Capital and Endogenous Growth in a Large scale Life cycle Model written by Patricio Arrau Pons and published by . This book was released on 1989 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Human Capital and Economic Growth written by Andreas Savvides and published by Stanford University Press. This book was released on 2008-10-10 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Endogenous Growth Human Capital and the Dynamic Costs of Recessions written by John Roufagalas and published by . This book was released on 2019 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of the paper is two-fold: (i) to construct and analyze a novel endogenous growth model, in which unbounded growth is possible without the need to assume increasing returns to scale, and (ii) to use the model to estimate the long-run (or dynamic) costs of recessions. In our model, endogenous technology and human capital accumulation serve as the "twin engines of growth". Simulations are used to derive growth rates consistent with long-term experience of developed countries, to understand better the differences between balanced growth and unbounded growth, and to provide an estimate of the dynamic costs of capacity utilization shocks that produce business-cycle-like behavior. Conservative calculations show that the costs of the capacity shocks can be large - about 1.5% of the present value of output over a 100-period horizon. The theoretical model also suggests that differences in the technology production and human capital accumulation functions, possibly due to differing institutions, may help explain diverse growth experiences. The paper, for first time, combines two strands of the economic growth theory - endogenous technology and endogenous human capital production - into a single model. It uses the implications of the model to argue, through simulations, that the benefits of counter-cyclical policies are potentially large in the long run.
Download or read book The Uzawa Lucas Endogenous Growth Model written by Paolo Mattana and published by Routledge. This book was released on 2017-11-30 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Endogenous Growth Human Capital and Bequests in a Life cycle Model written by Jordi Caballé and published by . This book was released on 1991 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Endogenous Growth Human Capital and Bequests in a Life cycle Model written by Jordi Caballé Vilella and published by . This book was released on 1991 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Human Capital Over the Life Cycle written by Catherine Sofer and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . I am convinced that it should occupy a high position on the desk of policymakers. . . This book constitutes a good state-of-the-art study in this field and paves the way for further research in this direction. Marie-Claire Villeval, Economic Record This attractive publication is carried out as a clear attempt to gain access to a wider audience, relaxing formal and technical details, which makes the lecture easier. . . An international comparison of literature or educational and labour experiences is provided in every contribution in the book, helping to obtain a wider perspective of the problems tackled. Carmen García and Julio López, Education Economics This book makes a novel contribution to economics of education in several key respects. It highlights a broad number of crucial factors over the individual s life cycle that underlie inequalities in education and in the labour market. . . It is amazing how limited our knowledge is about these interactions despite their high priority in national as well as EU-level policy-making. This is a timely book concerned with topics of high policy relevance. Moreover, the authors have well succeeded in their attempt to write "in a style that makes this work accessible to a wider audience", using the editor s words. It is most important that academics as well as politicians are made aware of the considerable knowledge gaps that still prevail in our understanding of the role of education and training for the individual s success or failure in school and in working life. Rita Asplund, The Research Institute of the Finnish Economy (ETLA), Finland In the last decade, changes occurring in the demand for skills have produced significant effect on the functioning of labour markets in Europe and elsewhere. The challenge posed by a knowledge based society for sustained growth has been at the centre of the European strategy for employment and has important implications for the design of labour market policies. This book brings together a wide range of contributions written by leading experts on key issues such as: schooling systems, transition from school to work and lifelong learning, thereby providing an essential reference for both researchers and policymakers. Claudio Lucifora, Università Cattolica, Italy Human Capital Over the Life Cycle synthesises comparative research on the processes of human capital formation in the areas of education and training in Europe, in relation to the labour market. The book proposes that one of the most important challenges faced by Europe today is to understand the link between education and training on the one hand and economic and social inequality on the other. The authors focus the analysis on three main aspects of the links between education and social inequality: educational inequality, differences in access to labour markets and differences in lifelong earnings and training. Almost all the stages in the life cycle are tracked from early childhood to stages late in the working life: firstly the characteristics and effects of schooling systems, then the transitions from school to work and, finally, human capital and the working career. Academics and researchers of European studies, labour economics and the economics of education will all find this novel and analytically sound book of interest, as will sociologists and policymakers in Europe.
Download or read book Human Capital Endogenous Growth and Government Policy written by Martin Husz and published by Peter Lang Publishing. This book was released on 1998 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Demographic Change Human Capital and Endogenous Growth written by Alexander Ludwig and published by . This book was released on 2009 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper employs a large scale overlapping generations (OLG) model with endogenous education to evaluate the quantitative role of human capital adjustments for the economic consequences of demographic change. We find that endogenous human capital formation is an important adjustment mechanism which substantially mitigates the macroeconomic impact of demographic change. Welfare gains from demographic change for newborn households are approximately three times higher when households endogenously adjust their education. Low ability agents experience higher welfare gains. Endogenous growth through human capital formation is found to increase the long-run growth rate in the economy by 0.2-0.4 percentage points.
Download or read book Economic Growth written by Philip Arestis and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on the nature, causes and features of economic growth across a range of countries and regions. This title covers a variety of growth related topics - from theoretical analyses of economic growth in general to empirical analyses of growth in the OECD, transition economies and developing economies. This enlightening and significant new volume focuses on the nature, causes and features of economic growth across a wide range of countries and regions. Covering a variety of growth related topics - from theoretical analyses of economic growth in general to empirical analyses of growth in the OECD, transition economies and developing economies - the distinguished cast of contributors address some of the most important contemporary issues and developments in the field. These include, amongst others: endogenous growth theory, Keynesian theories of the business cycle and growth, unemployment and growth, FDI and productivity spillovers, and knowledge externalities and growth. This useful analysis of the many facets of economic growth will be an essential read for those interested in economic theory and economic policy-making, as well as students and scholars of macroeconomics and finance.
Download or read book Estimation of a Life Cycle Model with Human Capital Labor Supply and Retirement written by Xiaodong Fan and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop and estimate a life-cycle model in which individuals make decisions about consumption, human capital investment, and labor supply and use it to analyze changes in Social Security rules. The most important aspect of our paper is human capital towards the end of the life cycle which responds to changes in the rules. Retirement arises endogenously as part of the labor supply decision. The model allows for both an endogenous wage process through human capital investment (which is typically assumed exogenous in the retirement literature), an endogenous retirement decision (which is typically assumed exogenous in the human capital literature), and accounts for the Social Security system. We estimate the model using indirect inference to match the life-cycle profiles of employment and measured wages from the SIPP data. The model replicates the main features of the data--in particular the large increase in measured wages and small increase in labor supply at the beginning of the life cycle as well as the small decrease in measured wages but large decrease in labor supply at the end of the life cycle. We use the model to estimate the effects of various changes to tax and Social Security policies and show that allowing for human capital accumulation is critical.
Download or read book A Model on Knowledge and Endogenous Growth written by Derek Hung Chiat Chen and published by . This book was released on 2005 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors present a model of endogenous growth in which the main engine of economic development is knowledge. Using a two-sector closed economy model that comprises of a conventional goods-producing sector and a research and development sector, their model incorporates two key aspects of knowledge: technology and human capital. Steady-state equilibrium conditions show that the growth rate of per capita income hinges on the growth rate of human capital. While the growth rate of human capital has been previously shown to affect the growth of the economy in transition between steady states or balanced growth paths, the authors are the first to link the growth rate of human capital to the steady-state growth rate of productivity and output per worker. Furthermore, this result does not exhibit scale effects or policy invariance, both of which have been longstanding concerns with the predictions of endogenous growth models developed in the 1990s.
Download or read book Specific and General Human Capital in an Endogenous Growth Model written by Evangelia Vourvachaki and published by . This book was released on 2014 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cross country Studies of Growth and Policy written by Ross Levine and published by World Bank Publications. This book was released on 1991 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The design, implementation, and interpretation of cross- country investigations should be improved. This review of conceptual, methodological, and statistical weaknesses in cross- country studies suggests that existing findings warrant only limited confidence.
Download or read book Perpetual Growth in an Aggregative Model with Endogenous Human Capital Accumulation written by Công Nghê Truong and published by . This book was released on 1995 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Human Capital Formation Life Expectancy and the Process of Economic Development written by Matteo Cervellati and published by . This book was released on 2002 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
