Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.

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dc.citation.epage1054
dc.citation.issue5
dc.citation.journalTitleMacroeconomic Dynamicseng
dc.citation.spage1023
dc.citation.volume17
dc.contributor.affiliationDepartamento de Economía, Universidad EAFIT, Colombiaspa
dc.contributor.authorBreton, Theodore R.spa
dc.contributor.departmentEscuela de Economía y Finanzasspa
dc.contributor.departmentEconomíaspa
dc.contributor.programEstudios en Economía y Empresaspa
dc.date2013-07
dc.date.accessioned2015-11-06T16:26:26Z
dc.date.available2015-11-06T16:26:26Z
dc.date.issued2013-07
dc.description.abstractIn 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 an external effect to physical capital and labor. This paper estimates national stocks of human capital in 1990 created from prior investment in schooling and shows that for 36 countries the (macro) marginal product of human capital accruing to workers in 1990 is consistent with estimates of the (micro) marginal return on investment in schooling in workers' earnings studies. This reconciliation provides empirical evidence for the augmented Solow model.eng
dc.identifier.doi10.1017/S1365100511000824
dc.identifier.issn1469-8056
dc.identifier.urihttp://hdl.handle.net/10784/7539
dc.language.isoengeng
dc.publisherCambridge Universityeng
dc.relation.ispartofMacroeconomic Dynamics. Vol.17(5), 2013, pp.1023-1054spa
dc.relation.isversionofhttp://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8939622&fileId=S1365100511000824
dc.relation.urihttp://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8939622&fileId=S1365100511000824
dc.rightsrestrictedAccesseng
dc.rightsCopyright © Cambridge University Press 2012spa
dc.rights.accessrightsinfo:eu-repo/semantics/restrictedAccesseng
dc.rights.localAcceso restringidospa
dc.sourceMacroeconomic Dynamics. Vol.17(5), 2013, pp.1023-1054spa
dc.subject.keywordHuman Capitaleng
dc.subject.keywordEducationeng
dc.subject.keywordNeoclassical Modeleng
dc.subject.keywordEconomic Growtheng
dc.titleWere Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.eng
dc.typearticleeng
dc.typeinfo:eu-repo/semantics/articleeng
dc.typeinfo:eu-repo/semantics/publishedVersioneng
dc.type.hasVersionpublishedVersioneng
dc.type.localArtículospa

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