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Efectos de la inversión en capital Humano en un contexto de equilibrio General
[Effects of human capital investment in a general equilibrium context]

Author

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  • Joab Dan, Valdivia Coria
  • Daney David, Valdivia Coria

Abstract

Investment in education is important, since it affects people's labor productivity and their remuneration. In this sense, the following work will develop a General Equilibrium Model that incorporates the theory of economic growth, in line with Paul Romer (1986), suggested the presence of externalities in research and development spending; and in turn Robert Lucas (1988) who focused his analysis of externalities on the formation of human capital. The research includes an analysis period between 1996 - 2017. The results indicate that shocks in investment of human capital have expansionary effects on real wages 0.03%, as well as the decreasing returns on wages due to increases in education as proposed by Mincer (1985). On the other hand, we evidenced that increases in wages have positive effects on economic growth in the short term of 0.02% (from the third period) but the persistence is null in the impulse response functions.

Suggested Citation

  • Joab Dan, Valdivia Coria & Daney David, Valdivia Coria, 2019. "Efectos de la inversión en capital Humano en un contexto de equilibrio General [Effects of human capital investment in a general equilibrium context]," MPRA Paper 99644, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:99644
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    O32; O38; O41.;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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