A review of the measures of the stock of human capital used in empirical growth research reveals that human capital is mostly poorly proxied. The simple use of the most common proxy, average years of schooling of the working-age population, misspecifies the relationship between education and the...

A review of the measures of the stock of human capital used in empirical growth research reveals that human capital is mostly poorly proxied. The simple use of the most common proxy, average years of schooling of the working-age population, misspecifies the relationship between education and the...

Do countries with higher levels of national IQ experience less volatility in the growth of real economic output compared with lower-IQ countries? This issue has not been addressed. Using a large sample of countries, a simple bivariate correlation indicates that IQ and economic volatility are...

The aim of this paper is to study the long-run effects of a longevity increase on individual decisions about education and retirement, taking macroeconomic repercussions through endogenous factor prices and the pension system into account. We build a model of a closed economy inhabited by...

We introduce publicly funded education in R&D-based economic growth theory. The framework allows us to i) incorporate a realistic process of human capital accumulation for industrialized countries, ii) reconcile R&D-based growth theory with the empirical evidence on the relationship between...

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...

We study changes in 130 countries' indices of revealed comparative advantage for 1,240 products between 1995 and 2010, to answer: (i) whether export diversification is path-dependent, and whether it is more difficult to diversify into more sophisticated products; and (ii) whether education helps...

We introduce publicly funded education into R&D based economic growth theory. Our framework allows us to i) explicitly describe a realistic process of human capital accumulation within these types of growth models, ii) reconcile semi-endogenous growth theory with the empirical evidence on the...

We introduce publicly funded education into R&D-based economic growth theory. Our framework allows us to i) explicitly describe a realistic process of human capital accumulation within these types of growth models, ii) reconcile semi-endogenous growth theory with the empirical evidence on the...