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|Title:||Specific and General Human Capital in an Endogenous Growth Model|
|Publisher:||Taylor and Francis|
|Abstract:||In this article, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy's composition of specific and general human capital, in a model where education and research and development are costly and complementary activities. The model suggests that a declining share of specific human capital, as observed in the Czech Republic, can be associated with a lower rate of long-term growth. We also discuss optimal educational policies in the presence of market frictions.|
|Note:||Versió postprint del document publicat a: https://doi.org/10.1080/00128775.2015.1033263|
|It is part of:||Eastern European Economics, 2015, vol. 53, num. 3, p. 167-204|
|Appears in Collections:||Articles publicats en revistes (Economia)|
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