Demirgüç-Kunt, Asli (contributor); … - 2008
financial markets imply that individuals have access to capital to
fund education, training, or business endeavors based only … generation t, h(i,t) is the corresponding level of human
capital in dynasty i, w(i,t) is the wage rate per unit of human capital … factors in equation
(1) that drive dynastic income.
5
2.3. Human Capital Accumulation
Next, consider the accumulation of …