Firms’ Responses to Changes in Frictions in Related Human Capital Factor Markets

2021 ◽  
Author(s):  
W. David Allen ◽  
Donald J. Schepker ◽  
Clint Chadwick
Keyword(s):  
Human Capital ◽  
Factor Markets

INCOME INEQUALITY AND ECONOMIC GROWTH WITH ALTRUISTIC BEQUESTS AND HUMAN CAPITAL INVESTMENT

2011 ◽  
Vol 16 (S3) ◽  
pp. 331-354 ◽  
Author(s):  
Stuart McDonald ◽  
Jie Zhang
Keyword(s):  
Human Capital ◽  
Income Inequality ◽  
Capital Investment ◽  
Physical Capital ◽  
Output Growth ◽  
Growth Path ◽  
Average Output ◽  
Balanced Growth ◽  
Factor Markets ◽  
Balanced Growth Path

In this paper we explore how income inequality affects growth in a dynastic family model with bequests (physical capital) and investment in human capital for children. For tractability, we abstract from factor markets and focus on household production, which is prevalent in developing countries. We explore a joint distribution of bequests and human capital and track the evolution of income distribution across generations. We show that initial inequality has a positive indirect effect on average output growth by lowering the ratio of physical to human capital, besides its standard negative direct effect. If education is mainly privately (publicly) provided, then income inequality retards (promotes) growth outside the balanced growth path. On the balanced growth path, inequality always hinders growth.

Human Capital

2007 ◽  
Author(s):  
R. Rajaram
Keyword(s):  
Human Capital

Human Capital

1979 ◽  
Author(s):  
Roger P. Bartlett
Keyword(s):  
Human Capital

Human Capital and Global Business Strategy

2013 ◽  
Author(s):  
Howard Thomas ◽  
Richard R. Smith ◽  
Fermin Diez
Keyword(s):  
Human Capital ◽  
Business Strategy ◽  
Global Business

Human capital

2001 ◽  
Author(s):  
Matt Barney
Keyword(s):  
Human Capital
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