Replication data for: Human Capital Prices, Productivity, and Growth
Principal Investigator(s): View help for Principal Investigator(s) Audra J. Bowlus; Chris Robinson
Version: View help for Version V1
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Project Description
Summary:
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Separate identification of the price and quantity of human capital
has important implications for understanding key issues in economics.
Price and quantity series are derived for four education levels.
The price series are highly correlated and they exhibit a strong secular
trend. Three resulting implications are explored: the rising college
premium is found to be driven more by relative quantity than
relative price changes, life-cycle wage profiles are readily interpretable
as reflecting optimal human capital investment paths using
the estimated price series, and adjusting the labor input for quality
increases dramatically reduces the contribution of MFP to growth.
(JEL D91, I20, J24, J31, O47)
Scope of Project
JEL Classification:
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D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
I20 Education and Research Institutions: General
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
J31 Wage Level and Structure; Wage Differentials
O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
I20 Education and Research Institutions: General
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
J31 Wage Level and Structure; Wage Differentials
O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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