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Cognitive Skills, Schooling Attainment, and Schooling Resources: What Drives Economic Growth?
(2009-11-15)
This paper presents evidence that students’ test scores at ages 9 to 15 are not a good proxy for a nation’s stock of human capital. Across countries test scores rise with increases in human capital up to $40,000/adult ...
Schooling and National Income: How Large Are the Externalities? Revised Estimates
(2010-08-18)
This article presents revised estimates of the external rates of return on investment in schooling provided in “Schooling and National Income: How Large Are the Externalities?” The analysis is based on data for the same ...
Does investment in schooling raise national income? Evidence from cross-country studies
(2011-06-05)
The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of the workers who receive the schooling and the external effects on workers’ earnings and on physical ...
Were Mankiw, Romer, and Weil Right? A reconciliation of the Micro and Macro Effects of Schooling on Income.
(2011-10-03)
The marginal product of human capital in Mankiw, Romer, and Weil’s [1992] augmented Solow model measures the direct and two external effects of human capital created from schooling on national income. If this model is ...
Schooling and National Income: How Large Are the Externalities?
(Universidad EAFIT, 2007-05-01)
This paper uses a new data set for cumulative national investment in formal schooling and a newinstrument for schooling to estimate the national return on investment in 61 countries. These estimates are combined with data ...
Schooling attainment, schooling expenditures, and test scores what causes economic growth?
(Universidad EAFIT, 2013-05-09)
Higher Test Scores or More Schooling? Another Look at the Causes of Economic Growth
(Universidad EAFIT, 2013-11-05)
I use a dynamic augmented Solow model to estimate the effects of students’ test scores and investment in schooling on economic growth rates in 49 countries during 1985-2005. In the complete data set, either average test ...
The role of cognitive skills in economic development revisited.
(2012-09-24)
Students’ test scores at ages 9 to 15 are a measure of their skills as workers five to 55 years later. Using historic data on test scores and school attendance, I calculate the share of workers in 2005 that could have ...
World Total Factor Productivity Growth and the Steady-State Rate in the 20th Century
(Universidad EAFIT, 2013-03-02)
I estimate a Solow model augmented with human capital in 42 countries for 1910-2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining ...
Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
(Cambridge University, 2013-07)
In Mankiw, Romer, and Weil's augmented Solow model [Quarterly Journal of Economics 107 (2) 407–437 (1992)], the marginal product of human capital accrues to three factors of production: directly to human capital, and as ...
