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Human capital creation in an economic perspective
1 online resource (xi, 213 pages) : illustrations.
The essays in this book address the important topic of human capital creation from an economic point of view. Among the crucial human capital-related topics covered are the complex interactions between schooling, learning and worker productivity, individual earnings effects of investment in human capital, the role of family background for schooling decisions, competence building in the labour market and its impact on earning and labour mobility and, finally the importance of the human capital component in enhancing productivity and thereby economic growth. The essays give a huge amount of new information on these as well as related questions obtained from ongoing or recent research projects in these particular fields. This book provides essential reading not only for professionals.
Introduction and Summary / Rita Asplund -- Human Capital and Individual Earnings -- Academic Competencies, Productivity and Earnings -- Educational Returns, Family Background and Earnings Differentials -- Competence Building in the Labour Market -- Workplace Skill Accumulation, Earnings and Labour Mobility -- Lifelong Learning -- Human Capital and Economic Performance -- Schooling, Learning and Worker Productivity / John Bishop -- The Impact of Academic Competencies on Worker Productivity in Current Jobs -- The Effect of General Academic Achievement on Wages of Adults -- Are Regression Estimates of the Economic Payoff of Knowledge and Skill Biased? -- Which Competencies are Rewarded in the American Labor Market? -- Is There Reason to Expect Wage Effects of Specific Competencies to be the Same as Their Productivity Effects? -- The Impact of Academic and Generic Technical Competencies on the Job Performance in the American Military -- The Impact of Academic and Technical Competence on Job Performance in the Civilian Sector -- Policy Implications -- Trends in the Demand for Skill and the Payoff to Academic Competence -- Trends in Demand for and Supply of University Graduates -- The Supply and Demand Balance -- Trends in the Payoff to University Edition -- Which College Specialties Generate the Largest Economic Payoff? -- Human Capital and Earnings in the Nordic Countries / Rita Asplund, Erling Barth, Carl le Grand, Arne Mastekaasa and Niels Westergard-Nielsen -- Empirical Model and Data -- Empirical Results -- Returns to Years of Schooling -- Returns to Educational Degrees -- Earnings Effects of Experience -- Earnings Effects of Experience and Seniority -- Earnings Differentials Between the Private and Public Sectors -- Earnings Differentials Across Occupational Social Status Categories -- Stability of Estimates over Time -- The Impact of Family Background on the Returns on and Length of Schooling in Sweden / Anders Bjorklund -- The Analytical Approach -- The Data -- Regional and Occupational Wage Differences -- Evidence from Workers in Norwegian Manufacturing Industries / Kristin Dale -- Method -- Model -- Log Linear Form -- Weighted Analysis -- Data -- Comparing the Weighted and Unweighted Results -- Occupational Differences -- Regional Wage Differences -- Differences Between Women and Men -- Wage Differences by Firm Size -- Wage Differences by Line of Industry -- Workplace Skill Accumulation and its Impact on Earnings and Labor Mobility: The U.S. Experience / Lisa M. Lynch -- Characteristics of Post-School Training in the U.S. -- The Impact of Training and Education on Wages -- The Impact of Training and Education on Labor Mobility -- Trends in Lifelong Learning in Europe / Leenamaija Otala -- Competence as an Element of Competitiveness -- Changing Business Environment -- New Requirements on Lifelong Learning -- Fast Developing Technology -- Need for Continuous Competence Development -- Internationalisation of Business: New Demands on Human Resource Development -- Ageing Population -- Need for Training Programmes for All Ages -- Decentralisation and Increasing Cost-Effectiveness -- Training Becomes Better Focused but Only on Short-Term Issues -- New Values for Young Employees -- New Demands on Employers -- SMEs are Important -- Competence Development is Still a Problem -- Conclusions of Trends in Business Impacting Needs of Lifelong Learning -- New Approaches to Lifelong Learning are Needed -- Increasing Need for European-Wide Policies -- Continuing Education and Schumpeterian Competition: Elements for a Theoretical Framework / Gerard Ballot -- The Debate on Becker's Theorem -- Innovation and the Sharing of General Training Expenses -- Continuing Education in a Schumpeterian Framework -- Some Preliminary Ideas -- Hierarchical Production Functions -- General Human Capital as an Input in the Production of Specific Human Capital in a Schumpeterian World -- Human Resources as a Determinant of Future Technology and Performance -- Some Notes on the Consequences for the Competitiveness of the Economies -- Education, Competence Development and Economic Growth -- A Microeconomic Explanation to Macroeconomic Growth / Gunnar Eliasson -- Growth Explanation or Accounting? -- Early Thinking About Education -- Pre-quantitative Times -- Neoclassical Analysis -- The "New" Growth Theory -- Micro-Based Growth Analysis -- The Firm, Employer -- The Individual -- The Market -- Organizational Learning and Competition Drive Economic Growth -- The Limits to Learning -- The Content of Economically Valuable Knowledge -- Technical Change Creates More Competition -- Competition Creates Technical Change -- Connecting Organizational Competence Back to Competition and Economic Growth -- Uncertainty, Multivalence and Growth / Kim Huynh and Marie-Pierre Merlateau -- The Model Under Certainty -- Assumptions -- The Model.
Published in association with ETLA, Helsinki.
Sarja B (Elinkeinoelämän Tutkimuslaitos (Finland)) ; 102