On aggregating human capital across heterogeneous cohorts

Jakub Growiec and Christian Groth ()

No 12-13, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: Based on a general framework for computing the aggregate human capital stock under heterogeneity across population cohorts, the paper derives aggregate human capital stocks in the whole population and in the labor force, and relates these variables to average years of schooling and average work experience. Under the scenarios considered here, the "macro-Mincer" (log-linear) relationship between aggregate human capital and average years of schooling is obtained only in cases which are inconsistent with heterogeneity in years of schooling and based on empirically implausible demographic survival laws. Our numerical results indicate that the macro-Mincer equation can be a reasonable approximation of the true relationship only if returns to schooling and work experience are roughly constant across countries.

Keywords: human capital; aggregation; heterogeneity; population cohort; Mincer equation (search for similar items in EconPapers)
JEL-codes: J24 O47 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2012-09-18
New Economics Papers: this item is included in nep-dem, nep-hrm, nep-lab and nep-lma
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: On aggregating human capital across heterogeneous cohorts (2015)
Working Paper: On aggregating human capital across heterogeneous cohorts (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:1213

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