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measure ‘income’). This is the case even when estimating individual fixed effects of the differential returns to education for …/or whether we use instrumental variables to cope with the endogenous nature of education in income equations. Finally, we find …
Persistent link: https://www.econbiz.de/10010325994
The paper studies the effects of cross-country differences in the productionprocess of human capital on income … effect upon intragenerational income inequality and growth along theequilibrium path. We also indicate how the level of …
Persistent link: https://www.econbiz.de/10010324734
The paper studies the determinants of income distribution and growth in an overlapping generations economy ….Heterogeneity in income results from the distribution of human capital acrossindividuals in a non-degenerate way. The human capital … production is affected by 'home-education' , provided bythe parents, as well as 'public-education , which is provided equally to …
Persistent link: https://www.econbiz.de/10010324875
Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the private return to schooling. We present a simple explanation combining two ideas: imperfect substitution and endogenous skill-biased technological progress and use cross-country...
Persistent link: https://www.econbiz.de/10010324788
We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...
Persistent link: https://www.econbiz.de/10010325787