The Human Capital Stock: A Generalized Approach: Reply

Benjamin Jones

American Economic Review, 2019, vol. 109, issue 3, 1175-95

Abstract: Human capital differences across countries can appear large or small depending on measurement methods. This Reply clarifies key assumptions and conceptual distinctions across accounting approaches. Accounting-based arguments for small human capital differences are difficult to sustain. By contrast, large human capital differences are theoretically and empirically coherent. Non-accounting arguments against large human capital variation are examined and their weaknesses pinpointed. This Reply also suggests a fruitful way forward for this literature, providing a natural conception of human capital that integrates literatures on ideas and institutions with the accounting of Jones (2014).

JEL-codes: E24 I26 J24 J31 (search for similar items in EconPapers)
Date: 2019
Note: DOI: 10.1257/aer.20181678
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Citations: View citations in EconPapers (5)

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