A substantial literature has developed to estimate the "true" cyclicality of real wages, that is, composition bias free. Two major issues are addressed in this article: aggregation of heterogeneous workers and potential bias in the measurement of the labor input. A general analysis of the biases...

Separate identification of the price and quantity of human capital has important implications for understanding key issues in economics. Price and quantity series are derived for four education levels. The price series are highly correlated and they exhibit a strong secular trend. Three...

Separate identification of the price and quantity of human capital has important implications for understanding key issues in economics. Price and quantity series are derived for four education levels. The price series are highly correlated and they exhibit a strong secular trend. Three...

In this paper new estimates of human capital prices and quantities, taking into account technological change in human capital production and endogenous education choice, are presented for both Canada and the United States. The implications of the estimates for the sources of growth are examined....

In this paper we explicitly model and estimate an education system that produces human capital. An important innovation is that technological change in the production functions associated with any level of education is permitted and the rate of change may be different at different levels and for...

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...

Immigrant assimilation is a major issue in many countries. While most of the literature studies assimilation through a human capital framework, we examine the role of job search assimilation. To do so, we estimate an equilibrium search model of immigrants operating in the same labor market as...