This website uses cookies.

By clicking the "Accept" button or continuing to browse our site, you agree to first-party and session-only cookies being stored on your device to enhance site navigation and analyze site performance and traffic. For more information on our use of cookies, please see our Privacy Policy.

  1. Home
  2. Journals
  3. American Economic Review
  4. May 2015
  5. Human Capital and Growth

American Economic Review

ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)

Human Capital and Growth

  • Robert E. Lucas Jr.
American Economic Review
vol. 105, no. 5, May 2015
(pp. 85–88)
Download Full Text PDF

Abstract

This paper describes a growth model with the property that human capital accumulation can account for all observed growth. The model is shown to be consistent with evidence on individual productivities as measured by census earnings data. The central hypothesis is that we learn more when we interact with more productive people.

Citation

Lucas, Robert E Jr. 2015. "Human Capital and Growth." American Economic Review 105 (5): 85–88. DOI: 10.1257/aer.p20151065

Additional Materials

JEL Classification

  • E23 Macroeconomics: Production
  • E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
  • J24 Human Capital; Skills; Occupational Choice; Labor Productivity
  • J31 Wage Level and Structure; Wage Differentials
  • O41 One, Two, and Multisector Growth Models