Recent studies discuss micro-transmission mechanisms to measure spillover effects of MNC (Multinational Corporations) activity on human capital in host countries. We develop an aggregate transmission mechanism to show that technology deepening in advanced sectors affect economy-wide skill...

This article surveys the theoretical and empirical literature on investment in human capital and the effect of public policies. Empirical literature shows that education carries considerable amount of risk and only 9 per cent of the variability of the returns to college education are...