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More on the estimation of the human capital depreciation rate

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  • Maria Arrazola
  • Jose de Hevia

Abstract

This study formulates an alternative empirical model to that of Groot (Applied Economics Letters, 5, 535-8, 1998) to estimate the rate of depreciation of human capital, in which the post-schooling investment and the difference between the potential and the observed earnings of the individuals are taken into account. As an illustration, the model has been estimated for a sample of Spanish men and women. The results show depreciation rates of human capital of around 1-1.5% per year.

Suggested Citation

  • Maria Arrazola & Jose de Hevia, 2004. "More on the estimation of the human capital depreciation rate," Applied Economics Letters, Taylor & Francis Journals, vol. 11(3), pages 145-148.
  • Handle: RePEc:taf:apeclt:v:11:y:2004:i:3:p:145-148
    DOI: 10.1080/1350485042000203742
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    References listed on IDEAS

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    1. Mincer, Jacob & Polachek, Solomon, 1974. "Family Investment in Human Capital: Earnings of Women," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 76-108, Part II, .
    2. James W. Albrecht & Per-Anders Edin & Marianne Sundström & Susan B. Vroman, 1999. "Career Interruptions and Subsequent Earnings: A Reexamination Using Swedish Data," Journal of Human Resources, University of Wisconsin Press, vol. 34(2), pages 294-311.
    3. 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.
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    Cited by:

    1. Stefano Bosi & Thierry Laurent, 2008. "Health, Growth and Welfare: Why Put Public Money on Medical R&D?," Documents de recherche 08-18, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    2. repec:kap:sbusec:v:49:y:2017:i:1:d:10.1007_s11187-016-9811-0 is not listed on IDEAS
    3. Vogel, Edgar & Ludwig, Alexander & Börsch-Supan, Axel, 2017. "Aging and pension reform: extending the retirement age and human capital formation," Journal of Pension Economics and Finance, Cambridge University Press, vol. 16(01), pages 81-107, January.
    4. repec:ebl:ecbull:v:10:y:2007:i:1:p:1-11 is not listed on IDEAS
    5. repec:mea:meawpa:12257 is not listed on IDEAS
    6. Kaniovski, Serguei, 2017. "The Optimal Use of Exhaustible Resources under Nonconstant Returns to Scale," Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168079, Verein für Socialpolitik / German Economic Association.
    7. Alexander Ludwig & Thomas Schelkle & Edgar Vogel, 2012. "Demographic Change, Human Capital and Welfare," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(1), pages 94-107, January.
    8. Guido Vignoli, 2012. "Tasa de depreciación de capital humano: Evidencia empírica para Argentina," CEMA Working Papers: Serie Documentos de Trabajo. 498, Universidad del CEMA.
    9. Thierry Laurent, 2012. "Dépenses militaires, croissance et bien être : une simulation de l’impact macroéconomique de la R&D défense," Revue d'économie politique, Dalloz, vol. 122(6), pages 971-1009.
    10. Inés P. Murillo, 2011. "Human capital obsolescence: some evidence for Spain," International Journal of Manpower, Emerald Group Publishing, vol. 32(4), pages 426-445, July.
    11. Ines P. Murillo, 2006. "Returns to Education and Human Capital Depreciation in Spain," ERSA conference papers ersa06p60, European Regional Science Association.
    12. Michał Konopczyński, 2014. "How Taxes and Spending on Education Influence Economic Growth in Poland," Contemporary Economics, University of Finance and Management in Warsaw, vol. 8(3), September.
    13. Simon Janßen & Uschi Backes-Gellner, 2009. "Skill Obsolescence, Vintage Effects and Changing Tasks," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 55(1), pages 83-103.
    14. Ludwig Volker & Pfeiffer Friedhelm, 2006. "Abschreibungsraten allgemeiner und beruflicher Ausbildungsinhalte - empirische Evidenz auf Basis subjektiver Einschätzungen / Depreciation Rates of General and Vocational Training Capital - Evidence B," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 226(3), pages 260-284, June.
    15. Müller, Kathrin, 2009. "Employment growth in newly established firms: is there evidence for academic entrepreneur's human capital depreciation?," ZEW Discussion Papers 09-050, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    16. Stefano Bosi & Thierry Laurent, 2006. "Military R&D, Growth and the Optimal Allocation of Governement Spending," Documents de recherche 06-12, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    17. Bleakley, Hoyt & Lin, Jeffrey, 2012. "Thick-market effects and churning in the labor market: Evidence from US cities," Journal of Urban Economics, Elsevier, vol. 72(2), pages 87-103.
    18. Kumar, Surender, 2008. "Is India on a Sustainable Development Path?," MPRA Paper 10086, University Library of Munich, Germany.
    19. José de Hevia & María Arrazola, 2007. "An Aggregated Index Of Human Capital," Economics Bulletin, AccessEcon, vol. 10(1), pages 1-11.
    20. Seung Mo Choi, 2008. "How Large are Learning Externalities? Measurement by Calibration," Working Papers 2008-26, School of Economic Sciences, Washington State University.
    21. Edle von Gaessler, Anne & Ziesemer, Thomas, 2017. "Ageing, human capital and demographic dividends with endogenous growth, labour supply and foreign capital," MERIT Working Papers 043, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    22. Vogel, Edgar & Ludwig, Alexander & Börsch-Supan, Axel, 2011. "Aging and Pension Reform in a Two-Region World: The Role of Human Capital," MEA discussion paper series 11246, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    23. Sergey Aseev & Konstantin Besov & Serguei Kaniovski, 2016. "The Optimal Use of Exhaustible Resources Under Non-constant Returns to Scale," WIFO Working Papers 525, WIFO.
    24. Spanjer, Anne & van Witteloostuijn, Arjen, 2017. "The entrepreneur's experiential diversity and entrepreneurial performance," Other publications TiSEM c613c681-b545-4660-ad6a-4, Tilburg University, School of Economics and Management.

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