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Schooling and Distortions in a Vintage Capital Model Author info | Abstract | Publisher info | Download info | Related research | Statistics Xavier Mateos-Planas (University of Southampton)
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This paper integrates the analysis of choices on education and on technology adoption to study international economic disparities. Two candidate explanations are considered: differences in distortions that affect the cost of technology adoption and differences in the effectivenss of schools. The implications of these two factors for differences in output per capita, educational attainment, and the age of technologies across-countries are assessed in a vintage capital model with technology-specific learning-by-doing. Predictions are obtained for a parameterized economy that matches US aggregate observations and evidence on learning. Differences in investment distortions produce plausible correlations only if the major role of education is to improve the ability to learn technologies. On the other hand, differences in school effectiveness produce plausible results only if the role of education is to provide a productive ability that is independent of learning. (Copyright: Elsevier)
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics .
Volume (Year): 4 (2001)
Issue (Month): 1 (January)
Pages: 127-158
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Handle: RePEc:red:issued:v:4:y:2001:i:1:p:127-158Contact details of provider: Postal: Review of Economic Dynamics Academic Press Editorial Office 525 "B" Street, Suite 1900 San Diego, CA 92101 Fax: 1-860-486-4463 Email: Web page: http://www.EconomicDynamics.org/review.htm More information through EDIRC
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Keywords: Other versions of this item:
Paper Mateos-Planas, X., 2000.
"Schooling and Distortions in a Vintage Capital Model ,"
Discussion Paper Series In Economics And Econometrics
0030, Economics Division, School of Social Sciences, University of Southampton.
Mateos-Planas, X., 2000.
"Schooling and Distortions in a Vintage Capital Model ,"
Discussion Paper Series In Economics And Econometrics
0030, Economics Division, School of Social Sciences, University of Southampton.
Find related papers by JEL classification: I2 - Health, Education, and Welfare - - Education O1 - Economic Development, Technological Change, and Growth - - Economic Development O3 - Economic Development, Technological Change, and Growth - - Technological Change O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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