The contribution of rising school quality to US economic growth

• 成果类型: Article
• 署名作者: You, Hye Mi
• 署名单位: State University of New York (SUNY) System; University at Buffalo, SUNY
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2014.01.006
• 发表日期: 2014
• 页码: 95-106
• 关键词: Labor quality growth; Rising school quality; Growth accounting

摘要

U.S. public school expenditures per pupil increased by a factor of 9 during the 20th century. This paper quantifies how much U.S. labor quality has grown due to the rise in educational spending. A schooling model and cross-sectional earnings variations across cohorts are exploited to identify the effect of the increased school expenditures on labor quality growth. The findings are that (i) U.S. labor quality increased by 0.4% per year between 1967 and 2000, one-fifth of which is attributable to the rise in educational spending; and (ii) labor quality growth explains one-quarter of the rise in labor productivity. (C) 2014 Elsevier B.V. All rights reserved.