The Subsidy To Human Capital Accumulation In An Endogenous Growth Model
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Author | : Jaime Alonso-Carrera |
Publisher | : |
Total Pages | : 0 |
Release | : 2000 |
Genre | : |
ISBN | : |
This paper analyzes both the growth and the dynamic effects of the subsidy to human capital investment in a two-sector endogenous growth model. We show that the subsidy is growth-increasing, and it determines the dynamic behavior of the physical and human capital variables. Moreover, the economy reacts instantaneously to unanticipated changes in the subsidy rate. We prove that the jolt caused by the marginal introduction of the subsidy depends on whether the inverse of the elasticity of intertemporal substitution in consumption is larger than the elasticity of marginal productivity of labor with respect to physical capital.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 40 |
Release | : 1994-12-01 |
Genre | : Business & Economics |
ISBN | : 1451921330 |
This paper analyses the impact of government tax and subsidy policy on immigration of human capital and the effect of such immigration on growth and incomes. In the context of a two-country endogenous growth model with heterogeneous agents and human capital accumulation, we argue that human capital flight or “brain drain” arising out of wage differentials, say because of differences in income tax rates or technology, can bring about a reduction in the steady state growth rate of the country of emigration. Additionally, permanent difference in the growth rates as well as incomes between the two countries can occur making convergence unlikely. While in a closed economy, tax-financed increases in subsidy to education can have a positive effect on growth, such a policy can have a negative effect on growth when human capital flight is taking place. Since subsidizing higher education is more likely to induce substantial brain drain, it is likely to be inferior to subsidy to lower levels of education if growth is to be increased.
Author | : Công Nghê Truong |
Publisher | : |
Total Pages | : 52 |
Release | : 1995 |
Genre | : Economic development |
ISBN | : |
Author | : Paolo Mattana |
Publisher | : Routledge |
Total Pages | : 183 |
Release | : 2017-11-30 |
Genre | : Business & Economics |
ISBN | : 1351144944 |
Using state of the art mathematical techniques this book provides a complete characterization of the Uzawa-Lucas growth model. In his path-breaking contribution on the 'Mechanics of Economic Growth' Lucas suggested that human capital is the key variable through which technical change is most likely to occur and (by taking some initial intuitions of Uzawa a step further) proposed a two-sector capital accumulation growth model where human capital is allowed to enter a neo-classical-style production structure in multiplicative terms. In this book Paolo Mattana fully explores the dynamic possibilities of the model from both the market and the centralized perspective. A critical evaluation of the inefficiency in the market economy is also provided.
Author | : Martin Husz |
Publisher | : Peter Lang Publishing |
Total Pages | : 148 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : |
Author | : Andreas Savvides |
Publisher | : Stanford University Press |
Total Pages | : 336 |
Release | : 2008-10-10 |
Genre | : Business & Economics |
ISBN | : 0804769761 |
This book provides an in-depth investigation of the link between human capital and economic growth. The authors take an innovative approach, examining the determinants of economic growth through a historical overview of the concept of human capital. The text fosters a deep understanding of the connection between human capital and economic growth through the exploration of different theoretical approaches, a review of the literature, and the application of nonlinear estimation techniques to a comprehensive data set. The authors discuss nonparametric econometric techniques and their application to estimating nonlinearities—which has emerged as one of the most salient features of empirical work in modeling the human capital-growth relationship, and the process of economic growth in general. By delving into the topic from theoretical and empirical standpoints, this book offers an insightful new view that will be extremely useful for scholars, students, and policy makers.
Author | : Javier Lozano Ibáñez |
Publisher | : |
Total Pages | : 43 |
Release | : 1998 |
Genre | : |
ISBN | : |
Author | : Philippe Aghion |
Publisher | : MIT Press |
Total Pages | : 720 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : 9780262011662 |
"Problems and solutions by Cecilia Garcâia-Peänalosa in collaboration with Jan Boone, Chol-Won Li, and Lucy White." Includes bibliographical references (p. [665]-687) and index.
Author | : Patricio Arrau |
Publisher | : |
Total Pages | : 52 |
Release | : 1989 |
Genre | : Capital investments |
ISBN | : |
Life- cycle models of growth can yield a negative relation between population growth and income per capita growth, where the direction of causality goes from the exogenous rate of population growth to the endogenous rate of income growth. Tax policy can affect the proportion of human and physical capital in household portfolios. Tax policy that favors human capital over physical capital produces higher growth in per capita income.
Author | : Mengtao Wu |
Publisher | : |
Total Pages | : 0 |
Release | : 2022 |
Genre | : |
ISBN | : |
We build an endogenous growth model featuring a new mode of human capital accumulation in a data economy. Data are generated as the byproducts of economic activities and then used by consumers for human capital accumulation apart from education. Although we find similar growth patterns compared with those in the related literature, the economy is further accelerated by the new use of data factor. Quantitative analyses suggest that although the accumulation of human capital is promoted by the increasing importance of data, this promotion is not unlimited since data may over-absorb resources and crowd out education. In the transition dynamics, we see that consumers suffer temporary pain. However, as data become a key factor in human capital accumulation, welfare ultimately increases. Our paper provides a first view of the effect of the data factor in the process of human capital accumulation.