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Returns to scale in producing human capital from schooling

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  • Philip A. Trostel
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    Abstract

    This study examines a crucial assumption in much of the recent work on endogenous growth, namely, constant returns to scale in producing human capital. A simple model is constructed to show that the returns to scale in human capital production can be inferred from the relationship between the wage rate and years of schooling. A large international micro dataset is used to estimate this relationship. The empirical evidence indicates that human capital production displays significant increasing returns at low levels of educational attainment, and significant decreasing returns at high levels of educational attainment. Copyright 2004, Oxford University Press.

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    Bibliographic Info

    Article provided by Oxford University Press in its journal Oxford Economic Papers.

    Volume (Year): 56 (2004)
    Issue (Month): 3 (July)
    Pages: 461-484

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    Handle: RePEc:oup:oxecpp:v:56:y:2004:i:3:p:461-484

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    Cited by:
    1. Dias, Joilson & Tebaldi, Edinaldo, 2012. "Institutions, human capital, and growth: The institutional mechanism," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 23(3), pages 300-312.
    2. Florian Immanuel Schumacher & Joilson Dias, 2011. "The Human Capital Function: Sectoralexternalities," Anais do XXXVIII Encontro Nacional de Economia [Proceedings of the 38th Brazilian Economics Meeting], ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of 215, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    3. Kezia De Lucas Bondezan & Joilson Dias, 2014. "Crescimento Econômico De Longo Prazo No Brasil: Uma Abordagem Sobre O Da Acumulação De Capital E Das Instituições," Anais do XLI Encontro Nacional de Economia [Proceedings of the 41th Brazilian Economics Meeting], ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Gra 096, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    4. Cesar Alonso-Borrego & Antonio Romero-Medina, 2010. "Wage expectations for higher education students in Spain," Economics Working Papers, Universidad Carlos III, Departamento de Economía we1016, Universidad Carlos III, Departamento de Economía.
    5. Debasis Bandyopadhyay & Xueli Tang, 2011. "Parental nurturing and adverse effects of redistribution," Journal of Economic Growth, Springer, Springer, vol. 16(1), pages 71-98, March.
    6. Kevin O’Rourke & Ahmed Rahman & Alan Taylor, 2013. "Luddites, the industrial revolution, and the demographic transition," Journal of Economic Growth, Springer, Springer, vol. 18(4), pages 373-409, December.
    7. Ning, Guangjie, 2010. "Can educational expansion improve income inequality? Evidences from the CHNS 1997 and 2006 data," Economic Systems, Elsevier, Elsevier, vol. 34(4), pages 397-412, December.
    8. Andrea Caragliu & Peter Nijkamp, 2011. "Cognitive Capital and Islands of Innovation: The Lucas Growth Model from a Regional Perspective," Tinbergen Institute Discussion Papers, Tinbergen Institute 11-116/3, Tinbergen Institute.
    9. Miriam Steurer, 2009. "Children as Family Public Goods: Some Implications for Fertility," Discussion Papers, School of Economics, The University of New South Wales 2009-04, School of Economics, The University of New South Wales.
    10. Andrea Caragliu & Peter Nijkamp, 2011. "Cognitive Capital and Islands of Innovation: The Lucas Growth Model from a Regional Perspective," Tinbergen Institute Discussion Papers, Tinbergen Institute 11-116/3, Tinbergen Institute.
    11. Chen, Hsiu-Lang & Gao, Sheldon & Hu, Xiaoqing, 2012. "Closing and cloning in open-end mutual funds," Journal of Banking & Finance, Elsevier, Elsevier, vol. 36(4), pages 1210-1223.
    12. César Alonso-Borrego & Antonio Romero-Medina, 2008. "Students’ Assessment of Higher Education in Spain," Working Papers 2008-31, FEDEA.

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