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American Economic Review: Vol. 102 No. 7 (December 2012)
AER Volume. 102, Issue 7 | 
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Download Data Set (142.40 KB) | Online Appendix (176.69 KB)
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AER Forthcoming Articles
Human Capital Prices, Productivity, and Growth
Article Citation
Bowlus, Audra J., and
Chris Robinson. 2012. "Human Capital Prices, Productivity, and Growth."
American Economic Review,
102(7): 3483-3515.
DOI: 10.1257/aer.102.7.3483
DOI: 10.1257/aer.102.7.3483
Abstract
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)
Article Full-Text Access
Full-text Article
Additional Materials
Download Data Set (142.40 KB) | Online Appendix (176.69 KB)
Authors
Bowlus, Audra J. (Social Science Centre, U Western Ontario)
Robinson, Chris (Social Science Centre, U Western Ontario)
Robinson, Chris (Social Science Centre, U Western Ontario)
JEL Classifications
D91: Intertemporal Consumer Choice; Life Cycle Models and Saving
I20: Education and Research Institutions: General
J24: Human Capital; Skills; Occupational Choice; Labor Productivity
J31: Wage Level and Structure; Wage Differentials
O47: Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
I20: Education and Research Institutions: General
J24: Human Capital; Skills; Occupational Choice; Labor Productivity
J31: Wage Level and Structure; Wage Differentials
O47: Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
