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Evaluating Human Capital Obsolescence

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  • Grip Andries de

    (ROA wp)

Abstract

Human resources are playing a central role in the knowledge economy that emerged in the Western world as the human capital embodied in both high-tech capital goods and the working population is a main determinant of the performance of individuals, organizations and national economies. Human resources stimulate technological change, whereas technological change stimulates the use of human resources. First, human capital is an important input factor in research & development, which is in particular emphasized by endogeneous growth theory (e.g. Romer, 1990). This is called the research effect of human capital (Cörvers, 1999). Second, high-skilled workers are of crucial importance for the diffusion of new technologies in the various sectors of the economy (Bartel & Lichtenberg, 1987). This is the diffusion effect of human capital.

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Bibliographic Info

Paper provided by Maastricht University, Research Centre for Education and the Labour Market (ROA) in its series ROA Working Paper with number 001.

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Date of creation: 2006
Date of revision:
Handle: RePEc:unm:umarow:2006001

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Keywords: education; training and the labour market;

References

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  1. David Autor & Lawrence Katz & Alan Krueger, 1997. "Computing Inequality: Have Computers Changed the Labor Market?," Working Papers 756, Princeton University, Department of Economics, Industrial Relations Section..
  2. Louis S. Jacobson & Robert J. LaLonde & Daniel Sullivan, 1992. "Earnings Losses of Displaced Workers," Upjohn Working Papers and Journal Articles 92-11, W.E. Upjohn Institute for Employment Research.
  3. Leora Friedberg, 2003. "The impact of technological change on older workers: Evidence from data on computer use," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 56(3), pages 511-529, April.
  4. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  5. Borghans,L. & Grip,A.,de & Smoorenburg,M.,van, 1997. "The Dutch Observatory on Employment and Training," ROA Working Paper 002, Maastricht University, Research Centre for Education and the Labour Market (ROA).
  6. Wasmer, Etienne, 2003. "Interpreting European and US Labour Market Differences: The Specificity of Human Capital Investments," CEPR Discussion Papers 3780, C.E.P.R. Discussion Papers.
  7. Adam J. Grossberg & Paul Sicilian, 1999. "Minimum Wages, On-the-Job Training, and Wage Growth," Southern Economic Journal, Southern Economic Association, vol. 65(3), pages 539-556, January.
  8. Pfann, Gerard A & Ben Kriechel, 2003. "Heterogeneity among Displaced Workers," Royal Economic Society Annual Conference 2003 164, Royal Economic Society.
  9. Jacob Mincer & Haim Ofek, 1982. "Interrupted Work Careers: Depreciation and Restoration of Human Capital," Journal of Human Resources, University of Wisconsin Press, vol. 17(1), pages 3-24.
  10. repec:hal:wpaper:halshs-00590805 is not listed on IDEAS
  11. Louis S. Jacobson & Robert J. LaLonde & Daniel G. Sullivan, 1993. "Long-term earnings losses of high-seniority displaced workers," Economic Perspectives, Federal Reserve Bank of Chicago, issue Nov, pages 2-20.
  12. Bartel, Ann P & Lichtenberg, Frank R, 1987. "The Comparative Advantage of Educated Workers in Implementing New Technology," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 1-11, February.
  13. Caroli, Eve & Van Reenen, John, 1999. "Skill biased organizational change? Evidence from a panel of British and French establishments," CEPREMAP Working Papers (Couverture Orange) 9917, CEPREMAP.
  14. Lori G. Kletzer, 1998. "Job Displacement," Journal of Economic Perspectives, American Economic Association, vol. 12(1), pages 115-136, Winter.
  15. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-84, December.
  16. Charles D. Bailey, 1989. "Forgetting and the Learning Curve: A Laboratory Study," Management Science, INFORMS, vol. 35(3), pages 340-352, March.
  17. Neal, Derek, 1995. "Industry-Specific Human Capital: Evidence from Displaced Workers," Journal of Labor Economics, University of Chicago Press, vol. 13(4), pages 653-77, October.
  18. Loo,J,van & Grip,A.,de & Steur,M.,de, 2001. "Skills Obsolescence: Causes and Cures," ROA Research Memorandum 003, Maastricht University, Research Centre for Education and the Labour Market (ROA).
  19. Bartel, Ann P & Sicherman, Nachum, 1993. "Technological Change and Retirement Decisions of Older Workers," Journal of Labor Economics, University of Chicago Press, vol. 11(1), pages 162-83, January.
  20. Glenn MacDonald & Michael Weisbach, 2001. "The Economics of Has-Beens," NBER Working Papers 8464, National Bureau of Economic Research, Inc.
  21. McDowell, John M, 1982. "Obsolescence of Knowledge and Career Publication Profiles: Some Evidence of Differences among Fields in Costs of Interrupted Careers," American Economic Review, American Economic Association, vol. 72(4), pages 752-68, September.
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Cited by:
  1. Leandro Prados de la Escosura & Joan R. Roses, 2009. "Human Capital and Economic Growth in Spain, 1850-2000," Working Papers in Economic History wp09-06, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
  2. Kai Sebastian Meinke, 2010. "Employment and Continuing Vocational Training (CVT) in the German Microcensus of the Year 2003," Kiel Working Papers 1643, Kiel Institute for the World Economy.

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