This paper briefly summarizes and discusses that type of new growth models which are based on externalities created by investments in human capital. ***** TURKCE OZET: Bu makalede, yeni/içsel buyume modellerinin beseri sermayeye dayali turlerini ozetlemekte ve degerlendirmektedir. [Calisma...

Do openness to trade and higher levels of human capital promote faster productivity growth? That they do is a key implication of several versions of endogenous growth theory. To answer the question we use panel data on 93 countries spanning the 1970-2000 period. Controlling for fixed effects as...

Observers of Silicon Valley’s computer cluster report that employees move rapidly between competing firms, but evidence supporting this claim is scarce. Job-hopping is important in computer clusters because it facilitates the reallocation of talent and resources toward firms with superior...

This paper investigates the determinants of TFP for Italian regions. We find strong evidence in favour of the factors commonly suggested by the theoretical literature. In particular, R&D expenditures and the number of researchers are positively related to regional TFP. Moreover, human capital is...

The framework of a general equilibrium heterogeneous agent model is used to study the optimal design of an unemployment insurance (UI) scheme and the voting behaviour on unemployment policy reforms. In a first step, the optimal defined benefit and defined replacement ratio UI systems are...

Using the rich data from the National Longitudinal Survey of Youth, we show that several dimensions of college quality have positive impacts on young women's wages. We find evidence of ability sorting, but controlling for ability, women who attend higher quality colleges earn higher wages. Women...

This paper is part of a project that attempts to reveal the way labour market institutions, human capital and labour productivity are interconnected. First we discuss two approaches in the human capital theory, stressing some difficulties that could be solved if the approaches are combined. It...

Using the rich data from the National Longitudinal Survey of Youth, we show that several dimensions of college quality have substantial positive impacts on young men's wages. This finding is robust to a wide array of alternative specifications. Controlling for ability reveals that sorting of...

This paper offers two main contributions. First, it shows how the Baxter and Jermann (1997) claim that, once we consider human capital risk, the international diversification puzzle is worse than we think, is based on an econometric misspecification rejected by the data. Second, it outlines how,...

The current research emphasis on institutions as key determinants of economic performance, rather than on resources and resource productivity, has uncovered important questions for further research. For example, if institutions are central to economic performance, then what explains observed...