Human Capital Prices, Productivity, and Growth

被引：41
|
作者：
Bowlus, Audra J. [1 ]
Robinson, Chris [1 ]
机构：
[1] Univ Western Ontario, Dept Econ, Social Sci Ctr, London, ON N6A 5C2, Canada
来源：
AMERICAN ECONOMIC REVIEW | 2012年 / 102卷 / 07期
关键词：
LABOR INPUT; LIFE-CYCLE; EARNINGS; RETIREMENT; AGE;
D O I：
10.1257/aer.102.7.3483
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Separate identification of the price and quantity of human capita has important implications for understanding key issues in economics. Price and quantity series are derived for four education levels. The price series are highly correlated and they exhibit a strong secular trend. Three resulting implications are explored: the rising college premium is found to be driven more by relative quantity than relative price changes, life-cycle wage profiles are readily interpretable as reflecting optimal human capital investment paths using the estimated price series, and adjusting the labor input for quality increases dramatically reduces the contribution of MEP to growth.
引用
收藏
页码：3483 / 3515
页数：33
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