In this paper we investigate the impact of technological change on inequalityin the presence of a landed elite using a standard unified growth model. We measure inequality by the ratio between land rent and wages and show that, before the onset of the fertility transition, technological progress...

Asia's rapid population aging fortifies the case for strengthening human capital investments. Further, the experience of the newly industrialized economies suggests that human capital investments will be a vital ingredient of the transition from middle income to high income. Those investments...

The paper examines the role of education in economic growth from both a theoretical and historic perspective, addresses why education has been the limiting factor determining growth historically, provides estimates of the quantitative importance of the direct and indirect effects of education on...

This paper investigates the effect of human capital accumulation on the direction of technical Change in a framework with natural resources and environmental externalities. The model simulates that an increasing knowledge stock of worker tends to direct technical change in favour of intangible...

In this study, we construct a measure of human capital using micro datasets on labor composition of age, gender, education, and wage rate and analyze its role in economic growth for the Korean economy. Over the past three decades, human capital has grown steadily at about 1% per year,...

We develop a general equilibrium overlapping generations model which is based on the view that education makes workers more productive by increasing their ability to learn from work experience, rather than providing skills that directly increase productivity. One important implication of the...

What role does education play in economic growth? Conventional wisdom and macroeconomic theories posit that as a nation becomes more educated, they become wealthier. The basic argument says a more educated populace is more productive (i.e. the quality of human capital increases) thereby...

We analyze the effects of children's health on human capital accumulation and on long-run economic growth. For this purpose we design an R&D-based growth model in which the stock of human capital of the next generation is determined by parental education and health investments. We show that i)...

The Italian economy performs well below the EU average. The reason is a dramatic and persistent low rate of investment, always invoked but never supported by national and supra-national institutions. However, investment to increase the quantity and quality of human capital is key to boost...