elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa ….s theorem to show that introducing human capital accumulation in the standard way does not resolve the puzzle. However, balanced … growth is possible if education is endogenous and capital is more complementary with schooling than with raw labor. We …

transfers over this period is taken into account. We show that the increase in capital's share of total income and the presence … of capital-entrepreneurial skill complementarity are two key features that help support the wages of ordinary workers as … the new technology diffuses. -- income inequality ; skill-biased technological change ; capital-skill complementarity …

the main channel of human capital accumulation in small open economies (as cities). The model predicts that skills …

capital (investment network). For each network, we document a declining fraction of production by goods sectors and a rising …

with overlapping generations, taking into account endogenous human capital formation as well as government budget …

(but not the absolute human capital attainment) will fall. This evolution of human capital accumulation is accompanied by …

This paper provides a unified treatment of externalities associated with fertility and human capital accumulation as …

even if the government can control the level of physical capital and set it to satisfy the modified golden rule. The main … regardless of the ability of the government to internalize the externality and control the level of human capital. Other results … include: (i) violation of Friedman rule for a different second-best environment wherein human capital accumulation is …