Human capital, R&D, and competition in macroeconomic analysis

Erik Canton, Bert Minne, Ate Nieuwenhuis, Bert Smid () and Marc van der Steeg
Additional contact information
Bert Smid: CPB Netherlands Bureau for Economic Policy Analysis

No 91, CPB Document from CPB Netherlands Bureau for Economic Policy Analysis

Abstract: Long-run per capita economic growth is driven by productivity growth. Major determinants of productivity are investments in education and research, and the intensity of competition on product markets. While these ideas have been incorporated into modern growth theories and tested in empirical analyses, they have not yet found their way to applied macroeconomic models used to forecast economic developments.In this paper, we discuss various options to include human capital, R&D, and product market competition in a macroeconomic framework. We also study how policy can affect the decisions to build human capital or to perform research, and how competition policy impacts on macroeconomic outcomes. We finally sketch how these mechanisms can be implemented into the large models used at CPB.See also background CPB Memorandum 122, "Why should governments intervene in education, and how effective is education policy?".

JEL-codes: O40 (search for similar items in EconPapers)
Date: 2005-07
New Economics Papers: this item is included in nep-dev, nep-edu, nep-hrm and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (27)

Downloads: (external link)
https://www.cpb.nl/sites/default/files/publicaties ... conomic-analysis.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpb:docmnt:91

Access Statistics for this paper

More papers in CPB Document from CPB Netherlands Bureau for Economic Policy Analysis Contact information at EDIRC.
Bibliographic data for series maintained by ().