haku: @indexterm human capital / yhteensä: 369
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| Tekijä: | Takii, K. Tanaka, R. |
| Otsikko: | Does the diversity of human capital increase GDP? A comparison of education systems |
| Lehti: | Journal of Public Economics
2009 : AUG, VOL. 93:7-8, p. 998-1007 |
| Asiasana: | human capital gross national product educational system models |
| Kieli: | eng |
| Tiivistelmä: | This paper explores how different education systems affect GDP by influencing the diversity of human capital (hereafter as: h-cap.). An overlapping generation model is built. It is shown that under a realistic condition, the diversity of h-cap. induced by income inequality always lowers the GDP of the next period, while the diversity of h-cap. induced by heterogeneous ability can increase GDP, if the produced intermediate goods are sufficiently substitutable with firms having a large span of control. Thus, as public education equalizes education resources across households, it mitigates the negative effect of income inequality on GDP, whereas the effects of ability tracking definitively depend on the production structure of the economy. |
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