Human Capital in Growth Regressions: How Much Difference Does Data Quality Make?

Angel de La Fuente () and Rafael Domenech

Journal of the European Economic Association, 2006, vol. 4, issue 1, 1-36

Abstract: We construct estimates of educational attainment for a sample of 21 OECD countries. Our series incorporate previously unexploited information and remove sharp breaks in the data that can only reflect changes in classification criteria. We then construct indicators of the information content of our estimates and a number of previously available data sets and examine their performance in several growth specifications. We find a clear positive correlation between data quality and the size and significance of human capital coefficients in growth regressions. Using an extension of the classical errors in variables model to correct for measurement error bias, we construct a set of meta-estimates of the coefficient of years of schooling in an aggregate Cobb-Douglas production function. Our results suggest that the value of this parameter is likely to be above 0.60. (JEL: O40, I20, O30, C19) Copyright (c) 2006 by the European Economic Association.

Date: 2006
References: Add references at CitEc
Citations: View citations in EconPapers (283)

Downloads: (external link)
http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1542-4774/issues link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Human Capital In Growth Regressions: How Much Difference Does Data Quality Make? (2000)
Working Paper: Human Capital in Growth Regressions: How much Difference Does Data Quality Make? (2000)
Working Paper: HUMAN CAPITAL IN GROWTH REGRESSIONS: HOW MUCH DIFFERENCE DOES DATA QUALITY MAKE?
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:tpr:jeurec:v:4:y:2006:i:1:p:1-36

Access Statistics for this article

Journal of the European Economic Association is currently edited by Xavier Vives, George-Marios Angeletos, Orazio P. Attanasio, Fabio Canova and Roberto Perotti

More articles in Journal of the European Economic Association from MIT Press
Bibliographic data for series maintained by The MIT Press ().