The human capital stock: A generalized approach: Reply

Benjamin F. Jones*

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

3 Scopus citations

Abstract

Human capital differences across countries can appear large or small depending on measurement methods. This Reply clarifies key assumptions and conceptual distinctions across accounting approaches. Accounting-based arguments for small human capital differences are difficult to sustain. By contrast, large human capital differences are theoretically and empirically coherent. Non-accounting arguments against large human capital variation are examined and their weaknesses pinpointed. This Reply also suggests a fruitful way forward for this literature, providing a natural conception of human capital that integrates literatures on ideas and institutions with the accounting of Jones (2014).

Original languageEnglish (US)
Pages (from-to)1175-1195
Number of pages21
JournalAmerican Economic Review
Volume109
Issue number3
DOIs
StatePublished - Mar 2019

ASJC Scopus subject areas

  • Economics and Econometrics

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