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Changing composition of human capital

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  • Byeongju Jeong
  • Michal Kejak
  • Viatcheslav Vinogradov

Abstract

We show that business education/occupations have expanded and that technical education/occupations have contracted in the Czech Republic and Poland since 1990. We interpret these changes as an adjustment necessary for their transition to a market economy. We do not find the same pattern in Hungary, which we attribute to the earlier timing of its transition. We construct an aggregate model in which labour reallocates in response to changing demand structure. When calibrated with the Czech and Polish data, the model generates a large movement of workers with technical education and experience into business occupations in the early 1990s. The discounted sum of output loss due to the gap between the demand structure and the composition of existing human capital amounts to between 8 and 40 percent of 1990 GDP. Copyright (c) 2008 The Authors.

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Bibliographic Info

Article provided by The European Bank for Reconstruction and Development in its journal Economics of Transition.

Volume (Year): 16 (2008)
Issue (Month): 2 (04)
Pages: 247-271

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Handle: RePEc:bla:etrans:v:16:y:2008:i:2:p:247-271

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Cited by:
  1. Brixiova, Zuzana & Li, Wenli & Yousef, Tarik, 2009. "Skill shortages and labor market outcomes in Central Europe," Economic Systems, Elsevier, vol. 33(1), pages 45-59, March.
  2. Spagat, Michael, 2006. "Human capital and the future of transition economies," Journal of Comparative Economics, Elsevier, vol. 34(1), pages 44-56, March.

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