Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.

In Mankiw, Romer, and Weil's augmented Solow model [Quarterly Journal of Economics 107 (2) 407–437 (1992)], the marginal product of human capital accrues to three factors of production: directly to human capital, and as an external effect to physical capital and labor. This paper estimates nati...

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Autores:
Breton, Theodore R.
Tipo de recurso:
Fecha de publicación:
2013
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
eng
OAI Identifier:
oai:repository.eafit.edu.co:10784/7539
Acceso en línea:
http://hdl.handle.net/10784/7539
Palabra clave:
Human Capital
Education
Neoclassical Model
Economic Growth
Rights
License
restrictedAccess
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oai_identifier_str oai:repository.eafit.edu.co:10784/7539
network_acronym_str REPOEAFIT2
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spelling 2013-072015-11-06T16:26:26Z2013-072015-11-06T16:26:26Z1469-8056http://hdl.handle.net/10784/753910.1017/S1365100511000824In Mankiw, Romer, and Weil's augmented Solow model [Quarterly Journal of Economics 107 (2) 407–437 (1992)], the marginal product of human capital accrues to three factors of production: directly to human capital, and as an external effect to physical capital and labor. This paper estimates national stocks of human capital in 1990 created from prior investment in schooling and shows that for 36 countries the (macro) marginal product of human capital accruing to workers in 1990 is consistent with estimates of the (micro) marginal return on investment in schooling in workers' earnings studies. This reconciliation provides empirical evidence for the augmented Solow model.engCambridge UniversityMacroeconomic Dynamics. Vol.17(5), 2013, pp.1023-1054http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8939622&fileId=S1365100511000824http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8939622&fileId=S1365100511000824restrictedAccessCopyright © Cambridge University Press 2012Acceso restringidohttp://purl.org/coar/access_right/c_16ecMacroeconomic Dynamics. Vol.17(5), 2013, pp.1023-1054Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.articleinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArtículopublishedVersionObra publicadahttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Human CapitalEducationNeoclassical ModelEconomic GrowthEscuela de Economía y FinanzasEconomíaBreton, Theodore R.Departamento de Economía, Universidad EAFIT, ColombiaEstudios en Economía y EmpresaMacroeconomic Dynamics1751023105410784/7539oai:repository.eafit.edu.co:10784/75392015-11-06 16:36:49.448metadata.onlyhttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co
dc.title.eng.fl_str_mv Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
title Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
spellingShingle Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
Human Capital
Education
Neoclassical Model
Economic Growth
title_short Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
title_full Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
title_fullStr Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
title_full_unstemmed Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
title_sort Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
dc.creator.fl_str_mv Breton, Theodore R.
dc.contributor.department.spa.fl_str_mv Escuela de Economía y Finanzas
Economía
dc.contributor.author.spa.fl_str_mv Breton, Theodore R.
dc.contributor.affiliation.spa.fl_str_mv Departamento de Economía, Universidad EAFIT, Colombia
dc.contributor.program.spa.fl_str_mv Estudios en Economía y Empresa
dc.subject.keyword.eng.fl_str_mv Human Capital
Education
Neoclassical Model
Economic Growth
topic Human Capital
Education
Neoclassical Model
Economic Growth
description In Mankiw, Romer, and Weil's augmented Solow model [Quarterly Journal of Economics 107 (2) 407–437 (1992)], the marginal product of human capital accrues to three factors of production: directly to human capital, and as an external effect to physical capital and labor. This paper estimates national stocks of human capital in 1990 created from prior investment in schooling and shows that for 36 countries the (macro) marginal product of human capital accruing to workers in 1990 is consistent with estimates of the (micro) marginal return on investment in schooling in workers' earnings studies. This reconciliation provides empirical evidence for the augmented Solow model.
publishDate 2013
dc.date.issued.none.fl_str_mv 2013-07
dc.date.available.none.fl_str_mv 2015-11-06T16:26:26Z
dc.date.accessioned.none.fl_str_mv 2015-11-06T16:26:26Z
dc.date.none.fl_str_mv 2013-07
dc.type.eng.fl_str_mv article
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
dc.type.coarversion.fl_str_mv http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_6501
http://purl.org/coar/resource_type/c_2df8fbb1
dc.type.local.spa.fl_str_mv Artículo
dc.type.hasVersion.eng.fl_str_mv publishedVersion
dc.type.hasVersion.spa.fl_str_mv Obra publicada
status_str publishedVersion
dc.identifier.issn.none.fl_str_mv 1469-8056
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/10784/7539
dc.identifier.doi.none.fl_str_mv 10.1017/S1365100511000824
identifier_str_mv 1469-8056
10.1017/S1365100511000824
url http://hdl.handle.net/10784/7539
dc.language.iso.eng.fl_str_mv eng
language eng
dc.relation.ispartof.spa.fl_str_mv Macroeconomic Dynamics. Vol.17(5), 2013, pp.1023-1054
dc.relation.isversionof.none.fl_str_mv http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8939622&fileId=S1365100511000824
dc.relation.uri.none.fl_str_mv http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8939622&fileId=S1365100511000824
dc.rights.eng.fl_str_mv restrictedAccess
dc.rights.spa.fl_str_mv Copyright © Cambridge University Press 2012
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_16ec
dc.rights.local.spa.fl_str_mv Acceso restringido
rights_invalid_str_mv restrictedAccess
Copyright © Cambridge University Press 2012
Acceso restringido
http://purl.org/coar/access_right/c_16ec
dc.publisher.eng.fl_str_mv Cambridge University
dc.source.spa.fl_str_mv Macroeconomic Dynamics. Vol.17(5), 2013, pp.1023-1054
institution Universidad EAFIT
repository.name.fl_str_mv Repositorio Institucional Universidad EAFIT
repository.mail.fl_str_mv repositorio@eafit.edu.co
_version_ 1814110366025646080

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