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A one-sector model of endogenous growth based on the accumulation of real capital by saving/investing and accumulation of human capital via learning-by-doing is presented. Experience is measured by means of production output aggregated over time. Explicitly separating learning and real capital...
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Empirical studies show that years of schooling are positively correlated with good health. The implication may go from education to health, from health to education, or from factors that influence both variables. We formalize a model that determines an individual's demand for knowledge and...
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inheritance) and a number of units of human capital.Human capital is measured in efficiency units, as in the theory of growth. By … contrast to the theory of growth, efficiency units increase as the result of training and education. Training is a costly …
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Empirical studies show that years of schooling are positively correlated with good health. The implication may go from education to health, from health to education, or from factors that influence both variables. We formalize a model that determines an individual's demand for knowledge and...
Persistent link: https://www.econbiz.de/10012978378