The human capital stock: A generalized approach

Benjamin F. Jones*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

44 Scopus citations

Abstract

This paper reconsiders the traditional approach to human capital measurement in the study of cross-country income differences. Within a broader class of neoclassical human capital aggregators, traditional accounting is found to be a theoretical lower bound on human capital differences across economies. Implementing a generalized accounting empirically illustrates the possibility that capital variation may now account (even fully) for the large income variation between rich and poor countries. These findings reject the constraints on human capital variation that traditional accounting has imposed.

Original languageEnglish (US)
Pages (from-to)3752-3777
Number of pages26
JournalAmerican Economic Review
Volume104
Issue number11
DOIs
StatePublished - Nov 1 2014

ASJC Scopus subject areas

  • Economics and Econometrics

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