Accumulation and Distribution of Human Capital: The Interaction between Individual and Aggregate Variables
AbstractThe paper analyzes the joint evolution of accumulation and distribution of human capital in an OLG framework. Dynamics arises from the interplay between human capital distribution and individual variables - inherited human capital and inborn ability. Such interaction drives individual investment in human capital and accumulation in the economy. According to the initial distribution the model provides different dynamical behaviours linking growth and inequality; in general economies with a more equal initial distribution grow faster but other cases are possible. Moreover, since the model provides an endogenous threshold for investing in human capital, the distribution is characterized by multi- modality
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Bibliographic InfoPaper provided by EconWPA in its series GE, Growth, Math methods with number 9901002.
Length: 28 pages
Date of creation: 24 Jan 1999
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Note: Type of Document - SW25; prepared on W98; pages: 28; figures: included
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Human Capital Bargaining Inequality Poverty-trap;
Find related papers by JEL classification:
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- D9 - Microeconomics - - Intertemporal Choice and Growth
This paper has been announced in the following NEP Reports:
- NEP-ALL-1999-02-15 (All new papers)
- NEP-MIC-1999-02-15 (Microeconomics)
- NEP-TID-1999-02-15 (Technology & Industrial Dynamics)
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