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Human capital and the ambiguity of the Mankiw-Romer-Weil model
Mankiw, Romer and Weil's (1992) finding of a cross-country relationship between savings rates, school enrolment and income levels is highly ambiguous.Their interpretation that it is consistent with an augmented Solow model depends on the implausible assumption that educational productivity is v...
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| Format: | Default Preprint |
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2004
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| Online Access: | https://hdl.handle.net/2134/331 |
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| _version_ | 1818175175789641728 |
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| author | Huw Edwards |
| author_facet | Huw Edwards |
| author_sort | Huw Edwards (1250523) |
| collection | Figshare |
| description | Mankiw, Romer and Weil's (1992) finding of a cross-country relationship between savings rates, school enrolment and income levels is highly ambiguous.Their interpretation that it is consistent with an augmented Solow model depends on the implausible assumption that educational productivity is vastly higher in advanced countries than poor ones. On the alternative assumption of consistent educational productivity, their model is very close to an AK-type, but with rising educational costs producing a degree of conditional convergence. |
| format | Default Preprint |
| id | rr-article-9492737 |
| institution | Loughborough University |
| publishDate | 2004 |
| record_format | Figshare |
| spelling | rr-article-94927372004-12-01T00:00:00Z Human capital and the ambiguity of the Mankiw-Romer-Weil model Huw Edwards (1250523) Other economics not elsewhere classified Growth Human capital Endogenous growth Economics not elsewhere classified Mankiw, Romer and Weil's (1992) finding of a cross-country relationship between savings rates, school enrolment and income levels is highly ambiguous.Their interpretation that it is consistent with an augmented Solow model depends on the implausible assumption that educational productivity is vastly higher in advanced countries than poor ones. On the alternative assumption of consistent educational productivity, their model is very close to an AK-type, but with rising educational costs producing a degree of conditional convergence. 2004-12-01T00:00:00Z Text Preprint 2134/331 https://figshare.com/articles/preprint/Human_capital_and_the_ambiguity_of_the_Mankiw-Romer-Weil_model/9492737 CC BY-NC-ND 4.0 |
| spellingShingle | Other economics not elsewhere classified Growth Human capital Endogenous growth Economics not elsewhere classified Huw Edwards Human capital and the ambiguity of the Mankiw-Romer-Weil model |
| title | Human capital and the ambiguity of the Mankiw-Romer-Weil model |
| title_full | Human capital and the ambiguity of the Mankiw-Romer-Weil model |
| title_fullStr | Human capital and the ambiguity of the Mankiw-Romer-Weil model |
| title_full_unstemmed | Human capital and the ambiguity of the Mankiw-Romer-Weil model |
| title_short | Human capital and the ambiguity of the Mankiw-Romer-Weil model |
| title_sort | human capital and the ambiguity of the mankiw-romer-weil model |
| topic | Other economics not elsewhere classified Growth Human capital Endogenous growth Economics not elsewhere classified |
| url | https://hdl.handle.net/2134/331 |