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Heterogeneity in Human Capital and Economic Growth

Author

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  • Stefania Zotteri

    () (Bank of Italy, Economic Research Department)

Abstract

This paper explores the growth-enhancing role played by heterogeneity in human capital accumulation. It develops a growth model that takes into account more than one mechanism for accumulating human capital; in particular, schooling and on-the-job training are considered. The paper demonstrates that human capital composition, which is generally neglected in growth models, is important in determining the growth rate of the economy and, in particular, that complementarities between different types of human capital investment are important. Moreover, heterogeneity among workers, due to differences in human capital initial endowments, can change the growth rate of the economy.

Suggested Citation

  • Stefania Zotteri, 2002. "Heterogeneity in Human Capital and Economic Growth," Temi di discussione (Economic working papers) 455, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:wptemi:td_455_02
    as

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    File URL: http://www.bancaditalia.it/pubblicazioni/temi-discussione/2002/2002-0455/tema_455_02.pdf
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    References listed on IDEAS

    as
    1. Ehrmann, Michael & Gambacorta, Leonardo & Martinéz Pagés, Jorge & Sevestre, Patrick & Worms, Andreas, 2001. "Financial systems and the role of banks in monetary policy transmission in the euro area," Working Paper Series 0105, European Central Bank.
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    4. Stevens, Margaret, 1994. "Labour Contracts and Efficiency in On-the-Job Training," Economic Journal, Royal Economic Society, vol. 104(423), pages 408-419, March.
    5. Acemoglu, Daron, 1994. "Search in the Labour Market, Incomplete Contracts and Growth," CEPR Discussion Papers 1026, C.E.P.R. Discussion Papers.
    6. Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75, pages 352-352.
    7. Stevens, Margaret, 1994. "A Theoretical Model of On-the-Job Training with Imperfect Competition," Oxford Economic Papers, Oxford University Press, vol. 46(4), pages 537-562, October.
    8. Stevens, Margaret, 1994. "An Investment Model for the Supply of Training by Employers," Economic Journal, Royal Economic Society, vol. 104(424), pages 556-570, May.
    9. Theodore W. Schultz, 1960. "Capital Formation by Education," Journal of Political Economy, University of Chicago Press, vol. 68, pages 571-571.
    10. Katz, Eliakim & Ziderman, Adrian, 1990. "Investment in General Training: The Role of Information and Labour Mobility," Economic Journal, Royal Economic Society, vol. 100(403), pages 1147-1158, December.
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    More about this item

    Keywords

    heterogeneity; human capital; economic growth;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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