Now showing items 1-10 of 21
Human capital and growth in japan since 1970: converging to the steady state in a 1% world.
Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, ...
Inestabilidad institucional, evidencia para Colombia: la violencia y el crecimiento económico en el periodo 1950-2010.
The uncertainty in periods of institutional instability, reflected in violence, can destroy the endowments of physical and human capital in the economy and, discourage investment. The paper analyses the long-run impact of ...
Cognitive Skills, Schooling Attainment, and Schooling Resources: What Drives Economic Growth?
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 ...
The role of cognitive skills in economic development revisited.
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 ...
Increases in human capital and growth: new data, more conclusive results.
Using a new data set for human capital/adult, I show that changes in human capital cause economic growth in 56 countries over the 1985 to 2005 period. I show that these results are superior to results using average schooling ...
Schooling attainment, schooling expenditures, and test scores what causes economic growth?
(Universidad EAFIT, 2013-05-09)
Schooling and National Income: How Large Are the Externalities? Revised Estimates
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
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.
The marginal product of human capital in Mankiw, Romer, and Weil’s  augmented Solow model measures the direct and two external effects of human capital created from schooling on national income. If this model is ...
Volatility and Growth: An Explanation for the Disagreement
(Universidad EAFIT, 2013-06-26)