Human Capital Accounting in the United States: 1994 to 2006

Michael Christian
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Michael Christian: Bureau of Economic Analysis

BEA Working Papers from Bureau of Economic Analysis

Abstract: This paper presents measures of the human capital stock and of investment in human capital for the United States between 1994 and 2006. When both market and non-market production are included, the stock of human capital was equal to about three quarters of quadrillion dollars in 2006, of which about 70 percent was non-market. The account breaks down human capital investment among the effects of births, deaths, aging, and education on human capital, as well as a residual effect attributed to (unmeasured) migration. Measures of gross investment in education are found to be very sensitive to counterfactual assumptions; consequently, investment in education is measured net of aging.

JEL-codes: E6 (search for similar items in EconPapers)
Date: 2010-02
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Citations: View citations in EconPapers (20)

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Persistent link: https://EconPapers.repec.org/RePEc:bea:wpaper:0049

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