The Human Capital Stock: A Generalized Approach: Comment

• 成果类型: Article
• 署名作者: Caselli, Francesco; Ciccone, Antonio
• 署名单位: University of London; London School Economics & Political Science; Center for Economic & Policy Research (CEPR); University of Mannheim; Barcelona School of Economics; Pompeu Fabra University
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20171787
• 发表日期: 2019
• 页码: 1155-+
• 关键词: technology

摘要

Jones (2014) examines development accounting with imperfect substitutability between different types of skills in the production of output. He finds that human capital variation can account for the totality of the variation in income across countries. We show that this finding is entirely due to an assumption that the relative wage of skilled workers is solely determined by attributes of workers (once the supply of skilled workers is accounted for). If skill premia are predominantly determined by technology, institutions, and other features of the economic environment, human capital differences explain none of the variation in income per worker.