We propose a one-good model where technological change is factor saving andcostly. We consider a production function with two reproducible factors: physical capital and human capital, and one not reproducible factor. The main predictions of the model are the following: (a) The elasticity of...

This study constructs an index of human capital for the Spanish labor force over the past two decades and projects it over the next decade on the basis of likely demographic developments. The methodology considers both educational attainment resulting from formal schooling and improvements in...

Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of income convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this...

This paper empirically examines the extent to which a country's economic growth is influenced by its trading partner economies. Panel estimation results based on four decades of data for over 100 countries show that trading partners' growth and relative income levels have a strong effect on...

This paper studies the effects of household income on labor participation and school enrollment of children aged 10 to 14 in Brazil using a social security reform as a source of exogenous variation in household income. Estimates imply that the gap between actual and full school enrollment was...

This article calculates the sheepskin effect on wages in Cali’s labor market, where additional profitability on wages when possessing a high school degree is 25 percent and 12 percent for March and September of 2000, and 45 percent and 37 percent for the same months, respectively, when...

El objetivo de este trabajo es el analisis de la contribucion de la educacion al crecimiento economico en America Latina, mediante un analisis que parte de la tradicional funcion de produccion Cobb-Douglas, siguiendo el enfoque de Neira y Guisan (1999), pero en el que se realiza una nueva forma...

En este trabajo estudiamos el papel del capital humano como uno de los factores determinantes del crecimiento economico de un pais, para ello consideramos dos variables fundamentales, el nivel educativo alcanzado por la poblacion activa y el gasto en educacion como medida de la calidad de la...

This paper examines the causal relationships between human capital (Education, and Health) and Economic growth for the USA using time series approach for the period 1929-1997. We find cointegration between the variables under study. The EC-VAR investigations show bi-directional causality between...

We expand Hanushek and Kimko’s (2000) analysis of the relationship between schooling quality, as measured by scores in international tests, and growth. We take account of another fifteen years of growth and approximately twice as many test score results. We treat the data first as a panel,...