Human capital accumulation in R&D-based growth models
This paper develops a model that reproduces the essential aspects of the recent ICT-based economy using the framework of endogenous growth theory in which a central role is played by human capital accumulation. In particular, it considers a multi-sectoral growth model in discrete time with infinite horizon, endogenous growth, embodied technological progress, horizontal differentiation and “lab-equipment” specification of R&D, and with human capital accumulation (represented by the fact that households devote a fraction of their time to schooling), in order to take into account the crucial role of the latter when new technologies are present. In this model it is possible to obtain some important results, both analytically and through simulations, either in the case of constant productivity of schooling and in the case in which this productivity is a function of technological progress. The first conclusion is that the productivity of schooling affects the long run growth of the economy, contrary to the productivities of the other sectors, hence in this model human capital accumulation is the true engine of growth. It is then possible to study the reaction of the economy to different types of shocks, and to compare the results with the empirical evidence. The conclusion is that the model is able to reproduce such evidence, suggesting that the interaction between ICT and human capital is one of the drivers of the recent economic performance.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Luis A. Rivera-Batiz & Paul M. Romer, 1990.
"Economic Integration and Endogenous Growth,"
NBER Working Papers
3528, National Bureau of Economic Research, Inc.
- Paul Romer, 1989.
"Endogenous Technological Change,"
NBER Working Papers
3210, National Bureau of Economic Research, Inc.
- BOUCEKKINE, Raouf & DE LA CROIX, David & VAILAKIS, Yiannis, "undated".
"Technological shocks and IT revolutions,"
CORE Discussion Papers RP
1646, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Raouf BOUCEKKINE & David DE LA CROIX & Yiannis VAILAKIS, 2002. "Technological Shocks and IT Revolutions," Discussion Papers (REL - Recherches Economiques de Louvain) 2002015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Boucekkine, Raouf & de la Croix, David, 2003.
"Information technologies, embodiment and growth,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 27(11), pages 2007-2034.
- BOUCEKKINE, Raouf & DE LA CROIX, David, "undated". "Information technologies, embodiment and growth," CORE Discussion Papers RP 1631, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- de la Croix, David & Boucekkine, Raouf, 2000. "Information technologies, embodiment and growth," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2001006, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Alvarez, Fernando & Lucas, Robert Jr., 2007.
"General equilibrium analysis of the Eaton-Kortum model of international trade,"
Journal of Monetary Economics,
Elsevier, vol. 54(6), pages 1726-1768, September.
- Fernando Alvarez & Robert E. Lucas, 2005. "General Equilibrium Analysis of the Eaton-Kortum Model of International Trade," NBER Working Papers 11764, National Bureau of Economic Research, Inc.
- Greenwood, J. & Hercowitz, Z. & Krusell, P., 1995.
"Long-Run Implications of Investment-Specific Technological Change,"
UWO Department of Economics Working Papers
9510, University of Western Ontario, Department of Economics.
- Greenwood, Jeremy & Hercowitz, Zvi & Krusell, Per, 1997. "Long-Run Implications of Investment-Specific Technological Change," American Economic Review, American Economic Association, vol. 87(3), pages 342-362, June.
- Greenwood, J. & Hercowitz, Z. & Krusell, P., 1996. "Long-Run Implications of Investment-Specific Technological Change," RCER Working Papers 420, University of Rochester - Center for Economic Research (RCER).
- Ann P. Bartel & Nachum Sicherman, 1995.
"Technological Change and the Skill Acquisition of Young Workers,"
NBER Working Papers
5107, National Bureau of Economic Research, Inc.
- Bartel, Ann P & Sicherman, Nachum, 1998. "Technological Change and the Skill Acquisition of Young Workers," Journal of Labor Economics, University of Chicago Press, vol. 16(4), pages 718-755, October.
- Baldwin, John R. & Peters, Valerie, 2001. "Training as a Human Resource Strategy: The Response to Staff Shortages and Technological Change," Analytical Studies Branch Research Paper Series 2001154e, Statistics Canada, Analytical Studies Branch.
- Claudio MATTALIA, 2002. "Information Technologies, Economic Growth and Productivity Shocks," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002026, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Lynch, Lisa M, 1992. "Private-Sector Training and the Earnings of Young Workers," American Economic Review, American Economic Association, vol. 82(1), pages 299-312, March.
- Oecd, 2005. "New Perspectives on ICT Skills and Employment," OECD Digital Economy Papers 96, OECD Publishing.
When requesting a correction, please mention this item's handle: RePEc:eee:ecmode:v:29:y:2012:i:3:p:601-609. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.