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Development accounting using PIAAC data

Listed author(s):
  • Hidalgo-Cabrillana, Ana.

    ()

    (Departamento de Análisis Económico (Teoría e Historia Económica). Universidad Autónoma de Madrid.)

  • Kuehn, Zoë.

    ()

    (Departamento de Análisis Económico (Teoría e Historia Económica). Universidad Autónoma de Madrid.)

  • López-Mayan, Cristina.

    ()

    (Euncet Business School, Universidad Autónoma de Barcelona)

We carry out a classical development accounting exercise using data from the Programme for the International Assessment of Adult Competencies" (PIAAC). PIACC data, available for 30 upper-middle and high-income countries and nationally representative for the working-age population, allow us to construct a multi- dimensional measure for the stock of human capital in each country, taking into account years of schooling, job experience, cognitive skills, on-the-job-training, and health. Individual level PIAAC data for the US are then used to estimate the weight of each dimension in the human capital composite by running Mincerian wage regressions. We find that differences in physical capital together with our broad measure of human capital account for 41% of the variance in output per worker, compared to only 27% when proxying human capital by average years of schooling only. Differences in cognitive skills play the largest role while experience and health are of lesser importance.

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File URL: http://www.uam.es/departamentos/economicas/analecon/especifica/mimeo/wp20172.pdf
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Paper provided by Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History) in its series Working Papers in Economic Theory with number 2017/02.

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Length: 30 pages
Date of creation: Jun 2017
Handle: RePEc:uam:wpaper:201702
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  1. Todd Schoellman, 2012. "Education Quality and Development Accounting," Review of Economic Studies, Oxford University Press, vol. 79(1), pages 388-417.
  2. Robert Jäckle & Oliver Himmler, 2010. "Health and Wages: Panel Data Estimates Considering Selection and Endogeneity," Journal of Human Resources, University of Wisconsin Press, vol. 45(2).
  3. Lutz Hendricks, 2002. "How Important Is Human Capital for Development? Evidence from Immigrant Earnings," American Economic Review, American Economic Association, vol. 92(1), pages 198-219, March.
  4. Maria Cubel & Ana Nuevo‐Chiquero & Santiago Sanchez‐Pages & Marian Vidal‐Fernandez, 2016. "Do Personality Traits Affect Productivity? Evidence from the Laboratory," Economic Journal, Royal Economic Society, vol. 0(592), pages 654-681, 05.
  5. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
  6. David Lagakos & Benjamin Moll & Tommaso Porzio & Nancy Qian, 2012. "Experience Matters: Human Capital and Development Accounting," Working Papers 2012-021, Human Capital and Economic Opportunity Working Group.
  7. Maria Cubel & Ana Nuevo-Chiquero & Santiago Sanchez-Pages & Marian Vidal-Fernandez, 2014. "Do Personality Traits Affect Productivity? Evidence from the Lab," Working Papers 2014012, The University of Sheffield, Department of Economics.
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