Název:
Specific and general human capital in an endogenous growth model
Autoři:
Vourvachaki, E. ; Jerbashian, Vahagn ; Slobodyan, Sergey Typ dokumentu: Výzkumné zprávy
Rok:
2014
Jazyk:
eng
Edice: CERGE-EI Working Paper Series, svazek: 520
Abstrakt: In this paper, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy’s composition of specific and general human capital, in a model where education and R&D are costly and complementary activities. The model suggests that a declining share of specific human capital, as observed in the Czech Republic, can be associated with a lower rate of long run growth. We also discuss optimal educational policies in the presence of market frictions.
Klíčová slova:
economic growth; education policy; human capital types Číslo projektu: IAA700850902 (CEP) Poskytovatel projektu: GA AV ČR