Ferreira-Lopes, Alexandra; Roseta-Palma, Catarina; … - In: Structural Change and Economic Dynamics 23 (2012) 2, pp. 127-136
We use an endogenous growth model to contrast the socially optimal allocation of human capital with the decentralized solution, in a context where workers make the choices that determine social capital accumulation. As social capital is expected to increase productivity but is not traded in...