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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 ...
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 ...