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Accumulation and Distribution of Human Capital: The Interaction between Individual and Aggregate Variables

Author

Listed:
  • Massimo Giannini

    (University of Rome Tor Vergata)

Abstract

The paper analyzes the joint evolution of accumulation and distribution of human capital in an OLG framework. Dynamics arises from the interplay between human capital distribution and individual variables - inherited human capital and inborn ability. Such interaction drives individual investment in human capital and accumulation in the economy. According to the initial distribution the model provides different dynamical behaviours linking growth and inequality; in general economies with a more equal initial distribution grow faster but other cases are possible. Moreover, since the model provides an endogenous threshold for investing in human capital, the distribution is characterized by multi- modality

Suggested Citation

  • Massimo Giannini, 1999. "Accumulation and Distribution of Human Capital: The Interaction between Individual and Aggregate Variables," GE, Growth, Math methods 9901002, EconWPA.
  • Handle: RePEc:wpa:wuwpge:9901002
    Note: Type of Document - SW25; prepared on W98; pages: 28; figures: included
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/ge/papers/9901/9901002.pdf
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    References listed on IDEAS

    as
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    7. Roland Bénabou, 1996. "Inequality and Growth," NBER Chapters,in: NBER Macroeconomics Annual 1996, Volume 11, pages 11-92 National Bureau of Economic Research, Inc.
    8. Oded Galor & Joseph Zeira, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Oxford University Press, vol. 60(1), pages 35-52.
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    More about this item

    Keywords

    Human Capital Bargaining Inequality Poverty-trap;

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D9 - Microeconomics - - Micro-Based Behavioral Economics

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