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General Equilibrium Effects of Investments in Education, and Changes in the Labor Force Composition

2022-10-06

Abstract excerpt

We propose, in this paper, a novel approach to modelling education and human capital formation in a computable general equilibrium model. Rather than adopting microeconomic-based assumptions of human capital formation, the method is based on an empirical relationship between labor force composition and expenditure on education services. We found some robust correlation between workers’ shares in the labor force an...

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Literature Corpus work
0e696d49-b71d-56cc-8c2d-1b12ad910602
DOI
10.32388/lhmfq6
Open publication

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General Equilibrium Effects of Investments in Education, and Changes in the Labor Force CompositionDOI 10.32388/lhmfq6
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