The human capital stock: A generalized approach: Reply

Benjamin F. Jones*

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

17 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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