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Schooling and distortions in a vintage capital model

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  • Mateos-Planas, Xavier

Abstract

This paper integrates the analysis of choices on education and on technology adoption to study international economic disparities. Two candidate explanations are considered: di¤erences in distortions that a¤ect the cost of technology adoption and di¤erences in the e¤ectiveness of schools. The implications of these two factors for di¤erences in output per capita, educational attainment, and the age of technologies across-countries are assessed in a vintage capital model with technology-speci…c learning-by-doing. Predictions are obtained for a parameterized economy that matches US aggregate observations and evidence on learning. Di¤erences 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, di¤erences in school e¤ectiveness produce plausible results only if the role of education is to provide a productive ability that is independent of learning.

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Paper provided by Economics Division, School of Social Sciences, University of Southampton in its series Discussion Paper Series In Economics And Econometrics with number 0030.

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Date of creation: 01 Jan 2000
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Handle: RePEc:stn:sotoec:0030

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Cited by:
  1. Pedro Cavalcanti Ferreira & Samuel de Abreu Pessoa, 2007. "The Effects of Longevity and Distortions on Education and Retirement," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(3), pages 472-493, July.
  2. Francesco Caselli, 2005. "Accounting for Cross-Country Income Differences," CEP Discussion Papers dp0667, Centre for Economic Performance, LSE.
  3. Francesco Caselli, 2005. "Accounting for cross-country income differences," LSE Research Online Documents on Economics 3567, London School of Economics and Political Science, LSE Library.
  4. Ferreira, Pedro Cavalcanti Gomes & Pessoa, Samuel de Abreu, 2003. "The Costs of Education, Longevity and the Poverty of Nations," Economics Working Papers (Ensaios Economicos da EPGE) 472, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  5. Mateos-Planas, Xavier, 2000. "Technology adoption with finite horizons," Discussion Paper Series In Economics And Econometrics 0033, Economics Division, School of Social Sciences, University of Southampton.
  6. Pessoa, Samuel de Abreu & Rob, Rafael, 2002. "Vintage Capital, Distortions and Development," Economics Working Papers (Ensaios Economicos da EPGE) 447, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  7. Thomas Gries & Stefan Jungblut & Tim Krieger & Henning Meier, 2009. "Statutory Retirement Age and Lifelong Learning," Working Papers CIE 9, University of Paderborn, CIE Center for International Economics.
  8. Huseyin cagri SAGLAM, 2002. "Optimal pattern of technology adoption under embodiment with a finite planning horizon : A multi-stage optimal control approach," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002031, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).

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