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Specific and general human capital in an endogenous growth model
- 1.0455351 - NHU-C 2016 CZ eng V - Research Report
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
Institutional support: PRVOUK-P23
Keywords : human capital types * economic growth * education policy
Subject RIV: AH - Economics
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.
Permanent Link: http://hdl.handle.net/11104/0255981
Number of the records: 1