Measuring Human Capital.

Autor/inn/en	Abraham, Katharine G.; Mallatt, Justine
Institution	National Bureau of Economic Research
Titel	Measuring Human Capital.
Quelle	Cambridge, Mass.: National Bureau of Economic Research (2022), 29 S. PDF als Volltext (1); PDF als Volltext (2) Link als defekt meldenVerfügbarkeit
Reihe	NBER working paper series. w30136
Beigaben	Illustrationen
Sprache	englisch
Dokumenttyp	online; Monographie; Graue Literatur
DOI	10.3386/w30136
Schlagwörter	Messung; Bildungsinvestition; Humankapital; Bildungsertrag; Bildungsertrag; Messung; Humankapital; Bildungsinvestition; Arbeitspapier
Abstract	There are many reasons to want measures of countries' investments in human capital and especially their investments in formal education. We review the existing literature on the measurement of human capital. Broadly speaking, economists have proposed three approaches to the measurement of human capital--the indicator approach, the cost approach and the income approach. Studies employing the indicator approach have used single measures such as average years of schooling or created indexes of multiple measures as human capital proxies. The cost approach values human capital investments based on spending. The income approach values human capital investments by looking forward to the increment to expected future earnings they produce. The latter two approaches have the significant advantage of consistency with national income accounting practices and measures of other types of capital, but there are also challenges to their implementation. Measures based on the income approach typically yield far larger estimates of the value of human capital than measures based on the cost approach. We outline possible reasons for this discrepancy and show how changes in assumptions can reconcile estimates based on the two approaches.
Erfasst von	ZBW - Leibniz-Informationszentrum Wirtschaft, Kiel
Update	2023/1