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Measuring the Economic Flows of UK Human Capital

Author

Listed:
  • Mubarak, Sami
  • Taylor, Cliodhna
  • Vassilev, Gueorguie
  • Heys, Richard
  • Fisher, Robbie
  • Bailey, Ed
  • Peabody, Sophie
  • Dunstan, Paul

Abstract

This paper presents a method to estimate the economic flows associated with the UK’s nominal human capital stock. We identify and estimate the size of multiple factors that cause the human capital stock to change from one year to the next. Estimates are presented for the years 2005 to 2020. We also propose and discuss how these changes in the stock could be categorised into the higher-level economic flow categories associated with the System of National Accounts 2008 such as: Gross Capital Formation, Capital Consumption, Revaluations and Other Changes in Volume.

Suggested Citation

  • Mubarak, Sami & Taylor, Cliodhna & Vassilev, Gueorguie & Heys, Richard & Fisher, Robbie & Bailey, Ed & Peabody, Sophie & Dunstan, Paul, 2024. "Measuring the Economic Flows of UK Human Capital," Discussion Papers escoe-dp-2024-05, Economic Statistics Centre of Excellence.
    • Handle: RePEc:eoe:escoed:escoe-dp-2024-05
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    File URL: https://www.repository-escoe.com/id/eprint/40/1/ESCoE%20DP%202024-05.pdf
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    References listed on IDEAS

    as
    1. Robert Dunn, 2022. "Measuring Human Capital in the UK Economic Accounts: An experimental satellite account," Economic Statistics Centre of Excellence (ESCoE) Discussion Papers ESCoE DP-2022-12, Economic Statistics Centre of Excellence (ESCoE).
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      JEL classification:

      • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
      • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
      • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
      • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
      • 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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