Specific and General Human Capital in an Endogenous Growth Model

Evangelia Vourvachaki (), Vahagn Jerbashian and Sergey Slobodyan

CERGE-EI Working Papers from The Center for Economic Research and Graduate Education - Economics Institute, Prague

Abstract: In this paper, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy's composition of specific and general human capital, in a model where education and R&D are costly and complementary activities. The model suggests that a declining share of specific human capital, as observed in the Czech Republic, can be associated with a lower rate of long run growth. We also discuss optimal educational policies in the presence of market frictions.

Keywords: human capital types; economic growth; education policy (search for similar items in EconPapers)
JEL-codes: I20 O40 O49 O52 (search for similar items in EconPapers)
Date: 2014-12
New Economics Papers: this item is included in nep-fdg, nep-gro and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cer:papers:wp520

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