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Over the past 15 years, labor-quality growth has been very strong—defying nearly all earlier projections—and has added around 0.5 percentage points to an otherwise modest U.S. productivity picture. Going forward, labor quality is likely to add considerably less and may even be a drag on...
Persistent link: https://www.econbiz.de/10012984123
mediated through employee decision-making and effort. To the extent that these practices are complementary with workers' skills … and firm-level productivity in Germany. In our preferred TFP estimates only a small fraction of this correlation is …
Persistent link: https://www.econbiz.de/10012996465
While human capital is a strong predictor of economic development today, its importance for the Industrial Revolution has typically been assessed as minor. To resolve this puzzling contrast, we differentiate average human capital (literacy) from upper-tail knowledge. As a proxy for the...
Persistent link: https://www.econbiz.de/10013052500
better education to state incomes. We develop detailed measures of worker skills in each state that incorporate cognitive … skills from state- and country-of-origin achievement tests. These new measures of knowledge capital permit development … the state variation in per-capita GDP, with roughly even contributions by school attainment and cognitive skills. Similar …
Persistent link: https://www.econbiz.de/10013020706
What is the connection between financing constraints and the equity premium? To answer this question, we build a model with inalienable human capital, in which investors finance individuals who can potentially become skilled. Though investment in skill is always optimal, it does not take place...
Persistent link: https://www.econbiz.de/10013324043
(verbal skills, activities of daily living, motor skills, and social skills) as a function of various measures of weight … indicate that, among boys, obesity is associated with reduced verbal skills, social skills, motor skills, and activities of … daily living. Among girls, obesity is associated with reduced verbal skills. Further investigations show that the …
Persistent link: https://www.econbiz.de/10012766424
Using data from two longitudinal surveys of American high school seniors, we show that basic cognitive skills had a … skills between 1978 and 1986 accounts for all of the increase in the wage premium associated with post-secondary education …. We also show that high school seniors' mastery of basic cognitive skills had a much smaller impact on wages two years …
Persistent link: https://www.econbiz.de/10013321572
policy. This paper concentrates on the importance of labor force quality, measured by cognitive skills in mathematics and … have a strong and robust influence on growth. One standard deviation in measured cognitive skills translates into one … more standard quantity measure of labor force skills. Further, the estimated growth effects of improved labor force quality …
Persistent link: https://www.econbiz.de/10014158648
Over the last twenty years the wage-education relationships in the US and Germany have evolved very differently, while … files from the PSID (US) and the GSOEP (Germany), we demonstrate how factor movements within these countries are associated … capital over the 1979-96 period, while Germany accumulated factors in a more balanced manner …
Persistent link: https://www.econbiz.de/10013308603
the range of 10 to 15 percent. We find no return to compulsory schooling in Germany in terms of higher wages. We … investigate whether this is due to labor market institutions or the existence of the apprenticeship training system in Germany …, but find no evidence for these explanations. We conjecture that the result might be due to the fact that the basic skills …
Persistent link: https://www.econbiz.de/10013213101