Showing 1 - 10 of 1,245
Persistent link: https://www.econbiz.de/10010395165
This study examines whether health care is affected by Baumol’s cost disease in a scenario of no growth. Baumol's model implies that stagnant sectors are driven by wage increases in excess of productivity growth. But in a no growth economy the income is constant. It is investigated in two...
Persistent link: https://www.econbiz.de/10011648466
This paper analyzes the interaction between intergenerational wealth transmission, human capital investments under uninsurable labor income risk, and economic growth in a small open overlapping-generations economy with heterogeneous agents. It demonstrates how the role of the personal income...
Persistent link: https://www.econbiz.de/10010261651
We examine whether democratic societies can escape poverty traps. Unrestricted agenda setting with simple majority rules fail to educate a society, because education-enhancing redistribution will not occur. We show that a combination of suitable constitutional rules overcomes this impossibility...
Persistent link: https://www.econbiz.de/10003039641
There are contradictory views in the literature regarding the relationship between education and economic growth. According to Lucas (1988), accumulation of human capital over time that boosts economic growth, whereas Nelson and Phelps (1966) argue that the stock of human capital is important...
Persistent link: https://www.econbiz.de/10013109180
This paper aims to understand the relationship between Radical Economics (RE) and Endogenous growth theory (EGT) based on a comparison of concepts and methods. Our findings include the existence of a set of common concepts, namely “power”, “conflict”, “technology” and...
Persistent link: https://www.econbiz.de/10012976868
In this paper, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy's composition of specific and general human capital, in a model where education and R&D are costly and...
Persistent link: https://www.econbiz.de/10013039933
Skills mismatch - the sub-optimal use of an individual's skills in their occupation - can be a source of dissatisfaction for workers and a brake for productivity growth. In our view, a difference in the level of skills within an occupation is not sufficient to infer that a skills mismatch...
Persistent link: https://www.econbiz.de/10012630320
This paper demonstrates that the role of the personal income distribution for an economy's process of development fueled by human capital accumulation critically depends on the shape of the saving function. Empirical evidence for the U.S. strongly suggests that the marginal propensity to save is...
Persistent link: https://www.econbiz.de/10013319597
Barro and Lee (1994), in an influential empirical study of the determinants of economic growth, find that, whereas growth is positively related to male schooling, it is negatively related to female schooling. Stokey (1994) has suggested that this is largely due to the influence of four Asian...
Persistent link: https://www.econbiz.de/10014184328