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endogenize the demand and supply of skills. We explicitly introduce the costs and externalities in education, and examine how … demand: the complementarity between technology and skilled and unskilled labor. Our results identify parameters that are …
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A model of endogenous growth is developed in this work, based on Robert Lucas's approach (1988), considering two effects regarding accumulating human capital: each person's internal impact on productivity and the external impact regarding their contribution to the other production factors'...
Persistent link: https://www.econbiz.de/10012775540
This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model …. -- Externalities ; human capital ; multiple equilibria …
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This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model …
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