Formal training, on-the-job training and the allocation of time
Article Abstract:
A technology for on-the-job training was integrated into a previous endogenous growth model and gave rise to a macroeconomic model. The model's characteristics were consistent with the human capital explanations of certain robust features of wage profiles taken from the US economy. Procyclical investment in human capital was predicted by the model through on-the-job training. At the same time, the excess volatility in employment that was otherwise present due to the strong countercyclical investment in human capital through training was moderated.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1999
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An RBC model with growth: the role of human capital
Article Abstract:
A real business cycle (RBC) model that includes both endogenous and exogenous growth correlates with the proven generalization that human capital growth rate lags behind that of physical capital. The growth factors stem from human capital supply and from production technology's Solow surplus, respectively. Because of the RBC model's consistency with respect to the established pattern of human capital behavior, it is deemed capable of corresponding with post-War economic patterns in the US as well as with composite labor market fluctuations.
Publication Name: Journal of Economics and Business
Subject: Economics
ISSN: 0148-6195
Year: 1998
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Home production with endogenous growth
Article Abstract:
The effects of endogenous growth from human capital accumulation are examined in Behabib et al. (1991) Greenwood and Hercowitz's (1991) Beckerian home production models. The comovements in employment across consumption and investment sectors of the economy or the comovements in output across market and home investment sectors are accounted for independently. The comovements can be explained through the interpolation of endogenous growth into the model.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1997
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