Full Citation

Title: The Human Capital Stock: A Generalized Approach

Citation Type: Journal Article

Publication Year: 2014

ISBN:

ISSN:

DOI: 10.1257/aer.104.11.3752

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Abstract: This paper reconsiders the traditional approach to human capital measurement in the study of cross-country income differences. Within a broader class of neoclassical human capital aggregators, traditional accounting is found to be a theoretical lower bound on human capital difference across economies. Implementing a generalized accounting empirically illustrates the possibility that capital variation may now account (even fully) for the large income variation between rich and poor countries. These findings reject the constraints on human capital variation that traditional accounting has imposed.

Url: https://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.104.11.3752

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Authors: Jones, Benjamin, F

Periodical (Full): American Economic Review

Issue: 11

Volume: 104

Pages: 3752-3777

Data Collections: IPUMS USA

Topics: Other

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