Data and Code for: Four Facts about Human Capital
Principal Investigator(s): View help for Principal Investigator(s) David Deming, Harvard University
Version: View help for Version V1
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application/pdf | 142.8 KB | 07/28/2022 04:57:AM |
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application/vnd.flographit | 7 KB | 10/05/2021 09:46:AM |
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text/plain | 3.7 KB | 07/22/2022 05:57:AM |
Project Citation:
Deming, David. Data and Code for: Four Facts about Human Capital. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-08-24. https://doi.org/10.3886/E170341V1
Project Description
Summary:
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This is the data and code repository for a forthcoming paper in the Journal of Economic Perspectives called "Four Facts about Human Capital".
The paper synthesizes what economists have learned about human capital since Becker (1962) into four stylized facts. First, human capital explains at least one-third of the variation in labor earnings within countries and at least half of the variation across countries. Second, human capital investments have high economic returns throughout childhood and young adulthood. Third, we know how to build foundational skills such as literacy and numeracy, and resources are often the main constraint. Fourth, higher-order skills such as problem-solving and teamwork are increasingly valuable, and the technology for producing these skills is not well-understood. We know that investment in education works and that skills matter for earnings, but we do not always know why.
The paper synthesizes what economists have learned about human capital since Becker (1962) into four stylized facts. First, human capital explains at least one-third of the variation in labor earnings within countries and at least half of the variation across countries. Second, human capital investments have high economic returns throughout childhood and young adulthood. Third, we know how to build foundational skills such as literacy and numeracy, and resources are often the main constraint. Fourth, higher-order skills such as problem-solving and teamwork are increasingly valuable, and the technology for producing these skills is not well-understood. We know that investment in education works and that skills matter for earnings, but we do not always know why.
Scope of Project
JEL Classification:
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J24 Human Capital; Skills; Occupational Choice; Labor Productivity
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
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