Le modèle de Solow et le capital humain

Résumé du document

"Suppose that workers have the opportunity of forgoing work in order to accumulate new skills (augment their human capital stock), as in Lucas. Assess how this alters the results of the basic Solow model."

Economic growth has been one of the most hotly debated topics in the economic theory history. Solow model (1956) is a valued guide for the basic theory of economic growth, which is also called neoclassical growth model. The underlying structure used for most macroeconomic research concerning developed countries.

In the first section of this essay, it gave a brief view of basic Solow model with graphs and concluded the key results of the model.

In the second section, it developed the Solow model with the role of human capital. It is produced through education, and existing knowledge, which is the key ingredient in the production of education.

In the third section, it applied the results of the human capital Solow model into empirical data by defining per-capita incomes relative to the United States.

Extraits

[...] (2002), “Introduction to Economic Growth, W.W. Norton, London. PP 43. Jones, Charles I. (2002), “Introduction to Economic Growth, W.W. Norton, London. PP 55. Borjas G. J., (2004) Labor Economics, 3rd edition, McGraw-Hill. PP 243. [...]

[...] Since it has lower investment, low educational attainment and high population growth rate. Uganda has the lowest GDP per worker and growth rate of GDP per worker, it obviously because of worse investment rate, educational attainment than those in India, even a lower population growth rate. As stated in Jones (2002), full data showed that the poorest countries have levels of A that are only 10 to 15 percent of those in the richest countries. The richest countries have an output per worker that is roughly 32 times that of the poorest countries. [...]

[...] Norton, London Human Capital and Growth. www.econ.ucla.edu/doepke/teaching/c32/sec3.pdf Accessed on 05 March 2007. Mankiw N (2000), Macroeconomics, 4th edition, Worth Publiser, United States of America. Pasi Ikonen (1999) Further Testing of The Human-Capital Augmented Solow Model. http://ideas.repec.org/p/fer/dpaper/189.html Accessed on 05 March 2007. Romer. D (2001) Advanced Macroeconomics, 2nd edition, McGraw-Hill. Wikipedia. http://en.wikipedia.org/wiki/Exogenous_growth_model Accessed on 05 March 2007. Jones, Charles I. [...]

[...] The labour-augmenting technology, can be solved by the production function in ( 3.2 consistent with each country's output and capital, it yields, A = α) * y/h In appendix C from Jones (2002), it reports a number of key statistics for 109 countries. The table below is a segment of it. Where is the GDP per worker relative to the US, g(60, 97) is the average annual growth rate of GDP per worker, 1960- 97, sK is the average investment share of GDP, 1980-97, u is the average educational attainment in years in 1995; n is the average population growth rate from 1980-97. [...]

[...] In the second section, it developed the Solow model with the role of human capital, It is produced through education, and existing knowledge, which is the key ingredient in the production of education. In the third section, it applied the results of the human capital Solow model into empirical data by defining per-capita incomes relative to the United States The Solow Model in brief The Solow model is built up around two equations: a production function and a capital accumulation function. [...]