Specific and general human capital in an endogenous growth model

0443402 - NHÚ 2016 CZ eng V - Výzkumná zpráva
Vourvachaki, E. - Jerbashian, Vahagn - Slobodyan, Sergey
Specific and general human capital in an endogenous growth model.
Prague: CERGE-EI, 2014. 44 s. CERGE-EI Working Paper Series, 520. ISSN 1211-3298
Grant CEP: GA AV ČR IAA700850902
Institucionální podpora: RVO:67985998
Klíčová slova: human capital types * economic growth * education policy
Kód oboru RIV: AH - Ekonomie
http://www.cerge-ei.cz/pdf/wp/Wp520.pdf

In this paper, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy’s composition of specific and general human capital, in a model where education and R&D are costly and complementary activities. The model suggests that a declining share of specific human capital, as observed in the Czech Republic, can be associated with a lower rate of long run growth. We also discuss optimal educational policies in the presence of market frictions.
Trvalý link: http://hdl.handle.net/11104/0246150