Schooling and distortions in a vintage capital model


Mateos-Planas, Xavier (2000) Schooling and distortions in a vintage capital model. Southampton, UK, University of Southampton, 41pp. (Discussion Papers in Economics and Econometrics, 0030).

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Description/Abstract

This paper integrates the analysis of choices on education and on technology adoption
to study international economic disparities. Two candidate explanations are considered:
di¤erences in distortions that a¤ect the cost of technology adoption and di¤erences in the
e¤ectiveness of schools. The implications of these two factors for di¤erences in output per
capita, educational attainment, and the age of technologies across-countries are assessed in a
vintage capital model with technology-speci…c learning-by-doing. Predictions are obtained
for a parameterized economy that matches US aggregate observations and evidence on
learning. Di¤erences in investment distortions produce plausible correlations only if the
major role of education is to improve the ability to learn technologies. On the other hand,
di¤erences in school e¤ectiveness produce plausible results only if the role of education is
to provide a productive ability that is independent of learning.

Item Type: Monograph (Working Paper)
Related URLs:
Subjects: H Social Sciences > HC Economic History and Conditions
L Education > L Education (General)
Divisions: University Structure - Pre August 2011 > School of Social Sciences > Economics
ePrint ID: 33128
Date Deposited: 18 Jul 2006
Last Modified: 27 Mar 2014 18:20
URI: http://eprints.soton.ac.uk/id/eprint/33128

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