Publikation: Human Capital and Growth Cycles
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2007
Autor:innen
Zink, Stefan
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Economic Theory. 2007, 31(1), pp. 19-33. Available under: doi: 10.1007/s00199-006-0081-y
Zusammenfassung
This paper studies the dynamic interaction between human capital accumulation and economic growth. Capital market imperfections and an indivisibility in human capital investment prevent poor agents from accumulating skills, the acquisition of which positively affects technological progress. More productive technologies in turn require more sophisticated qualification and involve higher training costs. The equilibrium dynamics can be characterized by the joint evolution of productivity growth, the schooling costs, and the income distribution. Under our assumptions, individual incomes follow a non-linear Markov chain. This nonlinearity generates endogenous fluctuations of schooling activities and the rate at which productivity improvements occur.
Zusammenfassung in einer weiteren Sprache
Fachgebiet (DDC)
330 Wirtschaft
Schlagwörter
Human capital accumulation, Income distribution, Capital market imperfection, Endogenous growth, Cycles
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KAAS, Leo, Stefan ZINK, 2007. Human Capital and Growth Cycles. In: Economic Theory. 2007, 31(1), pp. 19-33. Available under: doi: 10.1007/s00199-006-0081-yBibTex
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year={2007},
doi={10.1007/s00199-006-0081-y},
title={Human Capital and Growth Cycles},
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volume={31},
journal={Economic Theory},
pages={19--33},
author={Kaas, Leo and Zink, Stefan}
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