haku: @journal_id 109 / yhteensä: 867
viite: 245 / 867
| Tekijä: | Cannon, E. |
| Otsikko: | Human capital: level versus growth effects |
| Lehti: | Oxford Economic Papers
2000 : OCT, VOL. 52:4, p. 670-676 |
| Asiasana: | HUMAN CAPITAL GROWTH ECONOMICS CAPITAL |
| Kieli: | eng |
| Tiivistelmä: | This paper shows that the suggestion by Aghion and Howitt (1998) for how to distinguish the two approaches will not work. In this paper the author have noted that the NP approach to economic growth will predict accelerating growth rates unless growth depends upon the ratio of human capital to output or some growing variable: the author refer to such models as 'augmented NP' models. Aghion and Howitt suggest that distinguishing the NP approach to economic growth from the Lucas approach can be made easily, but do not address whether it is possible to distinguish the augment NP approach from the Lucas approach. In this paper the author have shown that it will not be possible to distinguish them, because to do so requires the endogenous variables of interest to display some variation but be unrelated to each other. |
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