作者：Teulings, Coen; van Rens, Thijs
作者单位：CPB Netherlands Bureau for Economic Policy; University of Amsterdam; Centre de Recerca en Economia Internacional (CREI); Pompeu Fabra University
摘要：Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the private return to schooling. We present a simple explanation combining two ideas: imperfect substitution and endogenous skill-biased technological progress and use cross-country panel data on inequality and GDP to test these ideas. A one-year increase in the level of education reduces the private return by 2 percentage points, consistent with Katz-Murphy's (1992) elasticity of...
