The Human Capital Stock: A Generalized Approach: Comment

Francesco Caselli and Antonio Ciccone

American Economic Review, 2019, vol. 109, issue 3, 1155-74

Abstract: Jones (2014) examines development accounting with imperfect substitutability between different types of skills in the production of output. He finds that human capital variation can account for the totality of the variation in income across countries. We show that this finding is entirely due to an assumption that the relative wage of skilled workers is solely determined by attributes of workers (once the supply of skilled workers is accounted for). If skill premia are predominantly determined by technology, institutions, and other features of the economic environment, human capital differences explain none of the variation in income per worker.

JEL-codes: E24 I26 J24 J31 (search for similar items in EconPapers)
Date: 2019
Note: DOI: 10.1257/aer.20171787
References: Add references at CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
https://www.aeaweb.org/doi/10.1257/aer.20171787 (application/pdf)
https://www.aeaweb.org/articles/attachments?retrie ... j1XbA9AnGIsa6X-Rt6kk (application/zip)
https://www.aeaweb.org/articles/attachments?retrie ... OnpB5Q5UxNfBg_RVmL_T (application/zip)
Access to full text is restricted to AEA members and institutional subscribers.

Related works:
Working Paper: The human capital stock: a generalized approach: comment (2019)
Working Paper: The Human Capital Stock: A Generalized Approach Comment (2017)
Working Paper: The Human Capital Stock: A Generalized Approach. Comment (2017)
Working Paper: The human capital stock: a generalized approach comment (2017)
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:109:y:2019:i:3:p:1155-74

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 ().