About: Optimal Human Capital Structure in Two Sector Model with Multiple Types of Human Capital: Generality versus Specificity     Goto   Sponge   NotDistinct   Permalink

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  • Systems of higher education around the world are highly diverse both with respect to its financing (private vs. public) and the degree of its specialization and flexibility. A contrast between 'general' and 'specific' human capital production is observed in various countries. We investigate what composition of different kinds of human capital might promote the highest economic welfare and growth rates in a multi-sectoral economy, and how to achieve this optimal composition intertemporally. We study three variants of our model, namely, 'social planner', 'decentralized economy', and the transition path from the former to the latter, and calibrate it using employment surveys, national accounting and educational sector data. Once the calibration is complete, we proceed with analytical treatment of our model and conclude with policy recommendations. (en)
  • Systems of higher education around the world are highly diverse both with respect to its financing (private vs. public) and the degree of its specialization and flexibility. A contrast between 'general' and 'specific' human capital production is observed in various countries. We investigate what composition of different kinds of human capital might promote the highest economic welfare and growth rates in a multi-sectoral economy, and how to achieve this optimal composition intertemporally. We study three variants of our model, namely, 'social planner', 'decentralized economy', and the transition path from the former to the latter, and calibrate it using employment surveys, national accounting and educational sector data. Once the calibration is complete, we proceed with analytical treatment of our model and conclude with policy recommendations. (cs)
Title
  • Optimal Human Capital Structure in Two Sector Model with Multiple Types of Human Capital: Generality versus Specificity (en)
  • Optimal Human Capital Structure in Two Sector Model with Multiple Types of Human Capital: Generality versus Specificity (cs)
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  • education; human capital; two-sector model; education policy (en)
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