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Educational attainment as a constraint on economic growth and social progress

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Author Info
Yolanda K. Kodrzycki
Abstract

Unless new policies offset the effects of existing demographic and educational patterns, improvements in labor quality are likely to contribute less to economic growth in the United States in the coming two decades than has been the case since the 1960s. The key reasons for this projection are the relatively slow increase in years of schooling obtained by young adults and the relatively low share of the population in the age group when labor market entry typically occurs. Furthermore, international test scores indicate a continuing mediocre performance for U.S. students on average. These trends suggest that capital formation or technology development would have to provide an offset in order to keep per capita income growth from slowing in coming decades. They also suggest that surges in demand for educated labor, as have occurred periodically in scientific and technical fields, will be challenging to accommodate.

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Publisher Info
Article provided by Federal Reserve Bank of Boston in its journal Conference Series ; [Proceedings].

Volume (Year): (2002)
Issue (Month): Jun ()
Pages: 37-95
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Handle: RePEc:fip:fedbcp:y:2002:i:jun:p:37-95:n:47

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Keywords: Education;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Peter Temin, 2002. "Teacher Quality and the Future of America," Eastern Economic Journal, Eastern Economic Association, vol. 28(3), pages 285-300, Summer. [Downloadable!]
  2. Robert J. Barro & Jong-Wha Lee, 2000. "International Data on Educational Attainment Updates and Implications," NBER Working Papers 7911, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Clark, Melissa A. & Jaeger, David A., 2002. "Natives, the Foreign-Born and High School Equivalents: New Evidence on the Returns to the GED," IZA Discussion Papers 477, Institute for the Study of Labor (IZA). [Downloadable!]
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  4. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October. [Downloadable!] (restricted)
  5. Xavier Sala-i-Martin, 1997. "I just Ran Four Million Regressions," Economics Working Papers 201, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
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  6. Robert J. Barro, 2001. "Human Capital and Growth," American Economic Review, American Economic Association, vol. 91(2), pages 12-17, May. [Downloadable!] (restricted)
  7. Edward L. Glaeser & Jose A. Scheinkman & Andrei Shleifer, 1995. "Economic Growth in a Cross-Section of Cities," NBER Working Papers 5013, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  8. Katharine L. Bradbury & Yolanda K. Kodrzycki & Christopher J. Mayer, 1996. "Spatial and labor market contributions to earnings inequality: an overview," New England Economic Review, Federal Reserve Bank of Boston, issue May, pages 1-10. [Downloadable!]
  9. Jong-Wha Lee & Robert J. Barro, 1997. "Schooling Quality in a Cross Section of Countries," NBER Working Papers 6198, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Eric A. Hanushek & Dennis D. Kimko, 2000. "Schooling, Labor-Force Quality, and the Growth of Nations," American Economic Review, American Economic Association, vol. 90(5), pages 1184-1208, December. [Downloadable!] (restricted)
  11. Simon, Curtis J., 1998. "Human Capital and Metropolitan Employment Growth," Journal of Urban Economics, Elsevier, vol. 43(2), pages 223-243, March. [Downloadable!] (restricted)
  12. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  13. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May. [Downloadable!] (restricted)
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  14. Mark Bils & Peter J. Klenow, 2000. "Does Schooling Cause Growth?," American Economic Review, American Economic Association, vol. 90(5), pages 1160-1183, December. [Downloadable!] (restricted)
  15. Jaewoo Ryoo & Sherwin Rosen, 2004. "The Engineering Labor Market," Journal of Political Economy, University of Chicago Press, vol. 112(S1), pages S110-S140, February. [Downloadable!] (restricted)
  16. Peter Temin, 2002. "Teacher Quality and the Future of America," NBER Working Papers 8898, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  17. Cameron, Stephen V & Heckman, James J, 1993. "The Nonequivalence of High School Equivalents," Journal of Labor Economics, University of Chicago Press, vol. 11(1), pages 1-47, January. [Downloadable!] (restricted)
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  18. Ben S. Bernanke & Refet S. Gurkaynak, 2001. "Is Growth Exogenous? Taking Mankiw, Romer and Weil Seriously," NBER Working Papers 8365, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  19. Jane Sneddon Little & Robert K. Triest, 2002. "The impact of demographic change on U. S. labor markets," New England Economic Review, Federal Reserve Bank of Boston, issue Q 1, pages 47 - 68. [Downloadable!]
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  20. repec:fth:prinin:462 is not listed on IDEAS
  21. Daron Acemoglu, 1998. "Why Do New Technologies Complement Skills? Directed Technical Change And Wage Inequality," The Quarterly Journal of Economics, MIT Press, vol. 113(4), pages 1055-1089, November. [Downloadable!] (restricted)
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  22. Paul M. Romer, 2000. "Should the Government Subsidize Supply or Demand in the Market for Scientists and Engineers?," NBER Working Papers 7723, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  23. Alan B. Krueger & Mikael Lindahl, 2001. "Education for Growth: Why and for Whom?," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1101-1136, December. [Downloadable!] (restricted)
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  24. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. William R. Keeton & Geoffrey B. Newton, 2006. "Migration in the Tenth District : long-term trends and current developments," Economic Review, Federal Reserve Bank of Kansas City, issue Q III, pages 33-74. [Downloadable!]
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