Human Capital Prices, Productivity and Growth

Audra Bowlus () and Chris Robinson

No 20085, University of Western Ontario, Centre for Human Capital and Productivity (CHCP) Working Papers from University of Western Ontario, Centre for Human Capital and Productivity (CHCP)

Abstract: Separate identification of the price and quantity of human capital has important implications for understanding key issues in labor economics and macroeconomics. Price and quantity series are derived and subjected to robustness checks. The human capital price series associated with different education levels are highly correlated and exhibit a strong secular trend. Three resulting implications are explored: (1) using the derived quantities life-cycle profiles are re-examined; (2) the rising college premium is reinterpreted and found to be mainly driven by relative quantity changes, and (3) adjusting the labor input for quality increases dramatically reduces the contribution of MFP to growth.

Date: 2008
New Economics Papers: this item is included in nep-edu and nep-hrm
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Related works:
Journal Article: Human Capital Prices, Productivity, and Growth (2012)
Working Paper: Human Capital Prices, Productivity and Growth (2011)
Working Paper: Human Capital Prices, Productivity and Growth (2010)
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