On aggregating human capital across heterogeneous cohorts
AbstractBased on a general framework for computing the aggregate human capital stock under heterogeneity across population cohorts, the paper derives aggregate human capital stocks in the whole population and in the labor force, and relates these variables to average years of schooling and average work experience. Under the scenarios considered here, the "macro-Mincer" (log-linear) relationship between aggregate human capital and average years of schooling is obtained only in cases which are inconsistent with heterogeneity in years of schooling and based on empirically implausible demographic survival laws. Our numerical results indicate that the macro-Mincer equation can be a reasonable approximation of the true relationship only if returns to schooling and work experience are roughly constant across countries.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 12-13.
Length: 28 pages
Date of creation: 18 Sep 2012
Date of revision:
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More information through EDIRC
human capital; aggregation; heterogeneity; population cohort; Mincer equation;
Other versions of this item:
- Jakub Growiec & Christian Groth, 2012. "On aggregating human capital across heterogeneous cohorts," National Bank of Poland Working Papers 134, National Bank of Poland, Economic Institute.
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-11-24 (All new papers)
- NEP-DEM-2012-11-24 (Demographic Economics)
- NEP-HRM-2012-11-24 (Human Capital & Human Resource Management)
- NEP-LAB-2012-11-24 (Labour Economics)
- NEP-LMA-2012-11-24 (Labor Markets - Supply, Demand, & Wages)
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.:
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