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Including human-capital accumulation lowers the esti- mated effects of saving and population growth to roughly the values predicted by the augmented Solow model.
16 de jul. de 2012 · This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data.
In a 1992 article in the Quarterly Journal of Economics, Mankiw, Romer, and Weil presented the human capital augmented Solow model of economic growth. They noted that
This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data.
1 de ene. de 2005 · Mankiw, Romer and Weil's (1992) finding of a cross-country relationship between savings rates, school enrolment and income levels is highly ambiguous.
Abstract: This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data.
1 de ene. de 1992 · adding human-capital accumulation to the Solow growth model. Including human capital can potentially alter either the theoretical modeling or the empirical analysis of economic growth.
