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The Human Capital Stock: A Generalized Approach

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  • Benjamin F. Jones

Abstract

This paper presents a new framework for human capital measurement. The generalized framework can (i) substantially amplify the role of human capital in accounting for cross-country income differences and (ii) reconcile the existing conflict between regression and accounting evidence in assessing the wealth and poverty of nations. One natural interpretation emphasizes differences across economies in the acquisition of advanced knowledge by skilled workers.

Suggested Citation

  • Benjamin F. Jones, 2011. "The Human Capital Stock: A Generalized Approach," NBER Working Papers 17487, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:17487
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    More about this item

    JEL classification:

    • I2 - Health, Education, and Welfare - - Education
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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