On aggregating human capital across heterogeneous cohorts

Jakub Growiec and Christian Groth ()

Mathematical Social Sciences, 2015, vol. 78, issue C, 21-38

Abstract: This paper studies the question: Can the microeconomic Mincerian (log-linear) functional relationship between human capital, years of schooling and work experience be recovered in some similar form at the macroeconomic level? A large macroeconomic literature assumes so, warranting that the question is of interest. We first examine the question at a theoretical level and find that except under very special assumptions, the answer is in the negative. On the other hand, we also show numerically that a macro-Mincer relationship can nevertheless be perceived as a quantitatively reasonable approximation of the theoretically derived “true” relationship, at least if the observed heterogeneity comes only from differences in the number of years of schooling, retirement age, or demographic survival laws.

Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165489615000803
Full text for ScienceDirect subscribers only

Related works:
Working Paper: On aggregating human capital across heterogeneous cohorts (2012)
Working Paper: On aggregating human capital across heterogeneous cohorts (2012)
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:eee:matsoc:v:78:y:2015:i:c:p:21-38

DOI: 10.1016/j.mathsocsci.2015.09.003

Access Statistics for this article

Mathematical Social Sciences is currently edited by J.-F. Laslier

More articles in Mathematical Social Sciences from Elsevier
Bibliographic data for series maintained by Catherine Liu ().