Human Capital Prices, Productivity, and Growth

Audra Bowlus () and Chris Robinson

American Economic Review, 2012, vol. 102, issue 7, 3483-3515

Abstract: Separate identification of the price and quantity of human capital has important implications for understanding key issues in economics. Price and quantity series are derived for four education levels. The price series are highly correlated and they exhibit a strong secular trend. Three resulting implications are explored: the rising college premium is found to be driven more by relative quantity than relative price changes, life-cycle wage profiles are readily interpretable as reflecting optimal human capital investment paths using the estimated price series, and adjusting the labor input for quality increases dramatically reduces the contribution of MFP to growth. (JEL D91, I20, J24, J31, O47)

JEL-codes: D91 I20 J24 J31 O47 (search for similar items in EconPapers)
Date: 2012
Note: DOI: 10.1257/aer.102.7.3483
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (68)

Downloads: (external link)
http://www.aeaweb.org/articles.php?doi=10.1257/aer.102.7.3483 (application/pdf)
http://www.aeaweb.org/aer/data/dec2012/20080737_data.zip (application/zip)
http://www.aeaweb.org/aer/data/dec2012/20080737_app.pdf (application/pdf)
Access to full text is restricted to AEA members and institutional subscribers.

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:aea:aecrev:v:102:y:2012:i:7:p:3483-3515

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions

Access Statistics for this article

American Economic Review is currently edited by Esther Duflo

More articles in American Economic Review from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().