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Simulating the Lisbon skills targets in WorldScan

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  • Bas Jacobs

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Abstract

This paper explains the theoretical background, the analytical methods, calibrations, assumptions and computations of the skill inputs for the WorldScan analysis on the skills targets of the Lisbon agenda. The Lisbon skills targets are implemented in WorldScan using most recent theoretical and empirical research in human capital theory. In particular, a satellite model for WorldScan is developed which disaggregates high skilled labour in S&E and non-S&E workers, and low skilled labour in workers with primary education (or less), lower secondary education, and higher secondary levels of education. In addition, workers can acquire skills through on-the-job training. The quality of the workforce may also increase by a higher quality of initial education. Finally, a stylised cohort model is developed to capture the time-lag between changes in policies and the eventual impact on the labour force. In implementing the skills targets we take heterogeneity between various EU countries into account with respect to the following skill variables: initial average levels of education, the returns to education, graduation rates in upper-secondary education, participation in on-the-job training, and the graduation shares in S&E education.

Suggested Citation

  • Bas Jacobs, 2005. "Simulating the Lisbon skills targets in WorldScan," CPB Memorandum 135, CPB Netherlands Bureau for Economic Policy Analysis.
  • Handle: RePEc:cpb:memodm:135
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    File URL: http://www.cpb.nl/sites/default/files/publicaties/download/memo135.pdf
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    References listed on IDEAS

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    1. James Heckman, 2011. "Policies to foster human capital," Educational Studies, Higher School of Economics, issue 3, pages 73-137.
    2. James Heckman & Lance Lochner & Christopher Taber, 1998. "Explaining Rising Wage Inequality: Explanations With A Dynamic General Equilibrium Model of Labor Earnings With Heterogeneous Agents," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(1), pages 1-58, January.
    3. Heckman, James J, 1976. "A Life-Cycle Model of Earnings, Learning, and Consumption," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 11-44, August.
    4. Colm Harmon & Hessel Oosterbeek & Ian Walker, 2003. "The Returns to Education: Microeconomics," Journal of Economic Surveys, Wiley Blackwell, vol. 17(2), pages 115-156, April.
    5. Bas Jacobs, 2004. "The Lost Race between Schooling and Technology," De Economist, Springer, vol. 152(1), pages 47-78, March.
    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. Ashenfelter, Orley & Harmon, Colm & Oosterbeek, Hessel, 1999. "A review of estimates of the schooling/earnings relationship, with tests for publication bias," Labour Economics, Elsevier, vol. 6(4), pages 453-470, November.
    8. Alan B. Krueger, 2003. "Economic Considerations and Class Size," Economic Journal, Royal Economic Society, vol. 113(485), pages 34-63, February.
    9. repec:fth:prinin:447 is not listed on IDEAS
    10. Janet Currie & Duncan Thomas, 1999. "Early Test Scores, Socioeconomic Status and Future Outcomes," NBER Working Papers 6943, National Bureau of Economic Research, Inc.
    11. Neal, Derek A & Johnson, William R, 1996. "The Role of Premarket Factors in Black-White Wage Differences," Journal of Political Economy, University of Chicago Press, vol. 104(5), pages 869-895, October.
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    Cited by:

    1. Isabel Grilo & Gert Koopman, 2006. "Productivity and Microeconomic Reforms: Strengthening EU Competitiveness," Journal of Industry, Competition and Trade, Springer, vol. 6(2), pages 67-84, June.
    2. Christian Dreger & Manuel Artís & Rosina Moreno & Raúl Ramos & Jordi Suriñach, 2007. "Study on the feasibility of a tool to measure the macroeconomic impact of structural reforms," European Economy - Economic Papers 2008 - 2015 272, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Moreno ROMA & Paul HIEBERT, "undated". "Relative House Price Dynamics Across Euro Area and US Cities: Convergence or Divergence?," EcoMod2010 259600143, EcoMod.
    4. Hugo ROJAS-ROMAGOSA & Luis RIVERA, "undated". "Human Capital Formation and the Linkage between Trade and Poverty: The Cases of Costa Rica and Nicaragua," EcoMod2010 259600142, EcoMod.
    5. Gelauff, George & Lejour, Arjan, 2006. "The new Lisbon Strategy: An estiamtion of the impact of reaching 5 Lisbon targets," MPRA Paper 16168, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • I20 - Health, Education, and Welfare - - Education - - - General
    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

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