Measuring aggregate human capital
AbstractWe construct a set of human capital indexes for the states of the United States for each census year starting in 1940. To do so, we propose a new methodology for the construction of index numbers in panel data sets. Our method is based on an optimal approach by which we choose the "best" set of index numbers by minimizing the expected estimation error subject to some research constraints. Some of the empirical findings are that the stock of human capital in the United States grew twice as rapidly as the average years of schooling and that human capital inequality across states went up during the 1980s (while the dispersion of schooling actually fell). We conclude that using the average years of schooling for the empirical study of existing growth models may be misleading. Copyright 2000 by Kluwer Academic Publishers
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 112.
Date of creation: Oct 1994
Date of revision: Jan 1995
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Web page: http://www.econ.upf.edu/
Other versions of this item:
- Casey B. Mulligan & Xavier Sala-i-Martin, 1995. "Measuring Aggregate Human Capital," NBER Working Papers 5016, National Bureau of Economic Research, Inc.
- Sala-i-Martin, X. & Mulligan, C.B., 1995. "Measuring Aggregate Human Capital," Papers 723, Yale - Economic Growth Center.
- Mulligan, Casey B & Sala-i-Martin, Xavier, 1995. "Measuring Aggregate Human Capital," CEPR Discussion Papers 1149, C.E.P.R. Discussion Papers.
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data
- O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
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- Mulligan, Casey B & Sala-i-Martin, Xavier, 1993. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 739-73, August.
- Mulligan, C.B. & Sala-i-Martin, X., 1992. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," Papers 651, Yale - Economic Growth Center.
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