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L'immatérielle richesse des nations

Author

Listed:
  • Thomas Melonio
  • Xavier Timbeau

Abstract

Human capital plays an increasing role in modern economies, so that education often is the largest spending of States. These spendings imply an asset whereas not accounted for. We estimate the evolution of the stock of French educational capital from 1971 to 2050 with two approaches. In the first one, educational capital is calculated as the accumulation of educational spendings, depreciated each year at an estimated rate. The second method assimilates States with fiscal optimizers and estimates educational capital through expected fiscal revenues. Both methods show a strong increase in French educational capital from 1971 to 2002, by roughly 60 GDP percentage points. Today, French educational capital would be worth around 140 percentage. This amount is expected to grow slighlty over the next 20 years, with highly educated generations replacing low educated ones, and to diminish afterwards with an anticipated decline in generation sizes. JEL codes: I20, H54, H63.

Suggested Citation

  • Thomas Melonio & Xavier Timbeau, 2006. "L'immatérielle richesse des nations," Revue de l'OFCE, Presses de Sciences-Po, vol. 97(2), pages 329-363.
    • Handle: RePEc:cai:reofsp:reof_097_0329
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    Cited by:

    1. Guillaume Allègre & Thomas Melonio & Xavier Timbeau, 2012. "Dépenses publiques d'éducation et inégalités. Une perspective de cycle de vie," Revue économique, Presses de Sciences-Po, vol. 63(6), pages 1055-1079.
    2. repec:spo:wpmain:info:hdl:2441/5l6uh8ogmqildh09h61kh4poj is not listed on IDEAS
    3. repec:spo:wpmain:info:hdl:2441/5l6uh8ogmqildh09h84a0it2m is not listed on IDEAS
    4. repec:spo:wpecon:info:hdl:2441/5l6uh8ogmqildh09h84a0it2m is not listed on IDEAS
    5. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09hi4j70a29 is not listed on IDEAS
    6. repec:spo:wpmain:info:hdl:2441/eu4vqp9ompqllr09hi4j70a29 is not listed on IDEAS
    7. Céline Antonin & Thomas Melonio & Xavier Timbeau, 2012. "L'epargne nette ré-ajustée," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 259-286.
    8. Xavier Timbeau, 2011. "Solidarité intergénérationnelle et dette publique," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 191-212.

    More about this item

    JEL classification:

    • I20 - Health, Education, and Welfare - - Education - - - General
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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