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Human capital, R&D, and competition in macroeconomic analysis

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  • Erik Canton
  • Bert Minne
  • Ate Nieuwenhuis

    ()

  • Bert Smid

    ()

  • Marc van der Steeg

    ()

Abstract

Long-run per capita economic growth is driven by productivity growth. Major determinants of productivity are investments in education and research, and the intensity of competition on product markets. While these ideas have been incorporated into modern growth theories and tested in empirical analyses, they have not yet found their way to applied macroeconomic models used to forecast economic developments. In this paper, we discuss various options to include human capital, R&D, and product market competition in a macroeconomic framework. We also study how policy can affect the decisions to build human capital or to perform research, and how competition policy impacts on macroeconomic outcomes. We finally sketch how these mechanisms can be implemented into the large models used at CPB. See also background CPB Memorandum 122 , " Why should governments intervene in education, and how effective is education policy?".

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Bibliographic Info

Paper provided by CPB Netherlands Bureau for Economic Policy Analysis in its series CPB Document with number 91.

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Date of creation: Jul 2005
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Handle: RePEc:cpb:docmnt:91

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Cited by:
  1. George Gelauff & Arjan Lejour, 2006. "Five Lisbon highlights; the economic impact of reaching these targets," CPB Document, CPB Netherlands Bureau for Economic Policy Analysis 104, CPB Netherlands Bureau for Economic Policy Analysis.
  2. Albu, Lucian-Liviu & Diaconescu, Tiberiu, 2009. "Simulation on long-term correlation between demographic variables and economic growth," MPRA Paper 33003, University Library of Munich, Germany.
  3. Lucian-Liviu Albu, 2012. "A Model To Estimate The Effect Of Global Crisis On The Convergence Process In Eu," New Trends in Modelling and Economic Forecast (MEF 2011), ROMANIAN ACADEMY – INSTITUTE FOR ECONOMIC FORECASTING;"Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences, vol. 1(1), pages 11-27, January.
  4. Miroslav Verbič & Boris Majcen & Olga Ivanova & Mitja Čok, 2011. "R&D and Economic Growth in Slovenia: A Dynamic General Equilibrium Approach with Endogenous Growth," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 67-89, March.
  5. Harold Creusen & Björn Vroomen & Henry van der Wiel & Fred Kuypers, 2006. "Dutch retail trade on the rise? Relation between competition, innovation and productivity," CPB Document, CPB Netherlands Bureau for Economic Policy Analysis 137, CPB Netherlands Bureau for Economic Policy Analysis.
  6. Marc van der Steeg, 2005. "Why should governments intervene in education, and how effective is education policy," CPB Memorandum, CPB Netherlands Bureau for Economic Policy Analysis 122, CPB Netherlands Bureau for Economic Policy Analysis.
  7. Albu, Lucian Liviu, 2008. "Trends in Structural Changes and Convergence in EU," Journal for Economic Forecasting, Institute for Economic Forecasting, Institute for Economic Forecasting, vol. 5(1), pages 91-101, March.
  8. Gelauff, George & Lejour, Arjan, 2006. "The new Lisbon Strategy: An estiamtion of the impact of reaching 5 Lisbon targets," MPRA Paper 16168, University Library of Munich, Germany.
  9. Viktoria Kocsis & Ruslan Lukach & Bert Minne & Victoria Shestalova & Nick Zubanov & Henry van der Wiel, 2009. "Relation entry, exit and productivity: an overview of recent theoretical and empirical literature," CPB Document, CPB Netherlands Bureau for Economic Policy Analysis 180, CPB Netherlands Bureau for Economic Policy Analysis.
  10. Verbic, Miroslav & Majcen, Boris & Cok, Mitja, 2009. "Education and Economic Growth in Slovenia: A Dynamic General Equilibrium Approach with Endogenous Growth," MPRA Paper 17817, University Library of Munich, Germany.
  11. Manmohan S. Kumar & Dennis P. J. Botman, 2007. "Global Aging Pressures," IMF Working Papers 07/196, International Monetary Fund.
  12. Henk Don & Johan Verbruggen, 2006. "Models and methods for economic policy; 60 years of evolution at CPB," CPB Discussion Paper 55, CPB Netherlands Bureau for Economic Policy Analysis.
  13. Lucian Liviu Albu & Tiberiu Diaconescu, 2009. "Long-Term Correlations Between Demographic Variables And Economic Growth," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 4(4), pages 5-28, december.
  14. Laura Thissen & Sjef Ederveen, 2006. "Higher education; time for coordination on a European level?," CPB Discussion Paper 68, CPB Netherlands Bureau for Economic Policy Analysis.
  15. Alessandro STERLACCHINI & Francesco VENTURINI, 2006. "Is Europe becoming a knowledge-driven economy? Evidence from EU developed regions," Working Papers 253, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.

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