Abstract
dc:descriptionThe second chapter takes explicitly into account the link between human capital accumulation and technological progress. Human capital accumulation in the spirit of Lucas (1988) is introduced into the R&D-based model of Romer (1990). The steady-state solution for the decentralized economy follows a growth-accounting exercise which provides quantitative information regarding the sources of growth. The model is calibrated to data and parameter estimates from various studies. It turns out that human capital accumulation explains a significant part of the growth influence of the Solow residual. The chapter concludes with an analysis of the long-run effects of changes in selected model parameters.
Degree
thesis:*- Name thesis:degree_name
- Ph.D.
- Level thesis:degree_level
- Dissertation
- Discipline thesis:degree_discipline
- Economics
- Grantor
- University of Illinois at Urbana-Champaign
- Year dc:date
- 2015
Author and committee
dc:creator, dc:contributor.*- Author dc:creator
-
- Psarianos, Iacovos
- Contributors dc:contributor
-
- Villamil, Anne P.
Subjects
dc:subject × 1Rights
- Language dc:language
- eng
Identifiers
dc:identifier.*- Identifier
- (MiAaPQ)AAI3017186
- OAI identifier oai:identifier
- oai:www.ideals.illinois.edu:2142/85505