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- Title
Type Change of Human Capital and Economic Growth.
- Authors
Kei Murata
- Abstract
This paper analyzes the interaction between the distribution of human capital and economic growth in the model mainly based on Galor and Tsiddon (1997) and Galor (1996). In these models, they assume to have only one type of human capital. But this paper assumes that there can be two types of human capital, unskilled labor and skilled labor, and we assume that they have their own dynamical systems respectively about the evolution of human capital, depending on Galor and Moav (2000). As a result, we can point out two types of equilibrium which may become available as steady state equilibrium. In one equilibrium, type change of human capital cannot occur. But in this model, there may be type change between unskilled labor and skilled labor. This result means that the standard level of human capital play an important role in the determination of the pattern of economic development. If a cost is not taken for the movement of the labor at all, the influence which exerts on the economic growth can also be reviewed by this model.
- Subjects
HUMAN capital; ECONOMIC expansion; SKILLED labor; ECONOMIC models; UNSKILLED labor; LABOR movement
- Publication
Global Business & Economics Anthology, 2022, Vol 1, p1
- ISSN
1553-1392
- Publication type
Article
- DOI
10.47341/GBEA.20127