This paper presents a unified theory of human capital with both health capital and, what we term, skill capital … endogenously determined within the model. By considering joint investment in health capital and in skill capital, the model … highlights similarities and differences in these two important components of human capital. Health is distinct from skill: health …

We present a theory of human capital, with its two most essential components, health capital and, what we term, skill … an important economic mechanism driving human-capital formation, socio-economic and health disparities, human …-capital based economic growth, and causal relations among the stocks of wealth, skill and health, namely whether individuals can …

Empirical studies show that years of schooling are positively correlated with good health. The implication may go from … education to health, from health to education, or from factors that influence both variables. We formalize a model that … determines an individual's demand for knowledge and health based on the causal effects, and study the impacts on the individual …