본문 바로가기
KERD
논문KCI 등재

Why Standard Measures of Human Capital are Misleading

ERIC A. HANUSHEK
한국개발연구원 (Korea Development Institute)|2015.05|KDI Journal of Economic Policy|제37권 제2호|pp. 22-39|DOI 10.23895/kdijep.2015.37.2.22

0

조회

0

다운로드

0

인용

0

참고문헌

키워드

Human CapitalCognitive SkillsReturns to SkillsEarnings FunctionLong-run Growth
주제분류경제학

초록

After a long, dormant period, recent attention has turned to a variety of measurement issues surrounding the concept of human capital. The traditional approach of rely entirely on measures of school attainment, while convenient, is almost certainly misleading. The availability of cognitive skills measures greatly improves on these measurements, but there remains also concern about other unmeasured factors, including noncognitive skills. This paper considers alternative approaches to assessing the role of human capital on individual earnings and on economic growth.

Abstract

After a long, dormant period, recent attention has turned to a variety of measurement issues surrounding the concept of human capital. The traditional approach of rely entirely on measures of school attainment, while convenient, is almost certainly misleading. The availability of cognitive skills measures greatly improves on these measurements, but there remains also concern about other unmeasured factors, including noncognitive skills. This paper considers alternative approaches to assessing the role of human capital on individual earnings and on economic growth.

참고문헌 (56)

  1. Acemoglu, D., "Why Do Firms Train? Theory and Evidence", Quarterly Journal of Economics, 113(1), pp.79~119 (1998)
  2. Acemoglu, D., "Beyond Becker: Training in Imperfect Labour Markets", Economic Journal, 109(453), pp.F112~F142 (1999)
  3. Altonji, J., "Employer Learning and Statistical Discrimination", Quarterly Journal of Economics, 116(1), pp.313~350 (2001)
  4. Barro, R., "Economic Growth in a Cross Section of Countries", Quarterly Journal of Economics, 106(2), pp.407~443 (1991)
  5. Barro, R., "International Comparisons of Educational Attainment", Journal of Monetary Economics, 32(3), pp.363~394 (1993)
  6. A New Data Set of Educational Attainment in the World, 1950-2010, "Barro, R.", National Bureau of Economic Research, ~, pp.Working Paper 15902 (2010)
  7. Becker, G., "Human Capital : A Theoretical and Empirical Analysis, with Special Reference to Education" (1964), National Bureau of Economic Research
  8. Bils, M., "Does Schooling Cause Growth?", American Economic Review, 90(5), pp.1160~1183 (2000)
  9. Bloom, D., "Health, Wealth and Welfare", Finance and Development, 41(1), pp.10~15 (2004)
  10. Bowles, S., "The Determinants of Earnings : A Behavioral Approach", Journal of Economic Literature, 39(4), pp.1137~1176 (2001)
  11. Bundy, D., "School Health and Nutrition: Policy and Programs", Food and Nutrition Bulletin, 26(2), pp.S186~S192 (2005)
  12. Card, D., "Estimating the Return to Schooling : Progress on Some Persistent Econometric Problems", Econometrica, 69(5), pp.1127~1160 (2001)
  13. Chetty, R., "How Does Your Kindergarten Classroom Affect Your Earnings? Evidence from Project STAR", Quarterly Journal of Economics, 126(4), pp.1593~1660 (2011)
  14. Cohen, D., "Growth and Human Capital : Good Data, Good Results", Journal of Economic Growth, 12(1), pp.51~76 (2007)
  15. Coleman, J., "Equality of educational opportunity" (1966), U.S. Government Printing Office
  16. Cunha, F., "Formulating, Identifying and Estimating the Technology of Cognitive and Noncognitive Skill Formation", The Journal of Human Resources, 43(4), pp.738~782 (2008)
  17. Goldin, C., "The Race between Education and Technology" (2008), Harvard University Press
  18. Gomes-Neto, J., "Health and Schooling : Evidence and Policy Implications for Developing Countries", Economics of Education Review, 16(3), pp.271~282 (1997)
  19. Haider, S., "Life-cycle Variation in the Association between Current and Lifetime Earnings", American Economic Review, 96(4), pp.1308~1320 (2006)
  20. Hanushek, E, "Handbook of Public Economics, Vol. 4", pp.2045~2141 (2002), North Holland
  21. Hanushek, E., "The Failure of Input-based Schooling Policies", Economic Journal, 113(485), pp.F64~F98 (2003)
  22. Hanushek, E., "The Economic Value of Higher Teacher Quality", Economics of Education Review, 30(3), pp.466~479 (2011)
  23. Hanushek, E., "Schooling, Labor Force Quality, and the Growth of Nations", American Economic Review, 90(5), pp.1184~1208 (2000)
  24. Hanushek, E., "Returns to Skills around the World : Evidence from PIAAC", European Economic Review, 73, pp.103~130 (2015)
  25. Hanushek, E., "The Role of Cognitive Skills in Economic Development", Journal of Economic Literature, 46(3), pp.607~668 (2008)
  26. Hanushek, E., "Handbook of the Economics of Education, Vol. 3", pp.89~200 (2011), North Holland
  27. Hanushek, E., "How much do Educational Outcomes Matter in OECD Countries?", Economic Policy, 26(67), pp.427~491 (2011)
  28. Hanushek, E., "Do Better Schools Lead to more Growth? Cognitive Skills, Economic Outcomes, and Causation", Journal of Economic Growth, 17(4), pp.267~321 (2012)
  29. Hanushek, E., "The Knowledge Capital of Nations : Education and the Economics of Growth" (2015), MIT Press
  30. Hanushek, E., "Quality-consistent Estimates of International Schooling and Skill Gradients", Journal of Human Capital, 3(2), pp.107~143 (2009)
  31. Hause, J., "Ability and Schooling as Determinants of Lifetime Earnings or If You’re so Smart, Why aren’t You Rich?", American Economic Review, 61(2), pp.289~298 (1971)
  32. Hause, J., "Earnings Profile: Ability and Schooling", Journal of Political Economy, 80(3), pp.S108~S138 (1972)
  33. Heckman, J., "Handbook of the Economics of Education, Vol. 1", pp.307~458 (2006), North Holland
  34. Heckman, J., "Earnings Functions and Rates of Return", Journal of Human Capital, 2(1), pp.1~31 (2008)
  35. Heckman, J., "The Effects of Cognitive and Noncognitive Abilities on Labor Market Outcomes and Social Behavior", Journal of Labor Economics, 24(3), pp.411~482 (2006)
  36. Kiker, F., "The Historical Roots of the Concept of Human Capital", Journal of Political Economy, 74(5), pp.481~499 (1966)
  37. Kiker, F., "Human Capital : In Retrospect" (1968), University of South Carolina
  38. Lazear, E., "Teacher Incentives", Swedish Economic Policy Review, 10(3), pp.179~214 (2003)
  39. Levine, R., "A Sensitivity Analysis of Cross-country Growth Regressions", American Economic Review, 82(4), pp.942~963 (1992)
  40. Mankiw, N., "A Contribution to the Empirics of Economic Growth", Quarterly Journal of Economics, 107(2), pp.407~437 (1992)
  41. Marshall, A., "Principles of Economics, vol. 1" (1898), Macmillan and Company
  42. McCallum, B., "Relative Asymptotic Bias from Errors of Omission and Measurement", Econometrica, 40(4), pp.757~758 (1972)
  43. Miguel, E., "Worms : Identifying Impacts on Education and Health in the Presence of Treatment Externalities", Econometrica, 72(1), pp.159~217 (2004)
  44. Mincer, J., "The Distribution of Labor Incomes : A Survey with Special Reference to the Human Capital Approach", Journal of Economic Literature, 8(1), pp.1~26 (1970)
  45. Mincer, J., "Schooling, Experience, and Earnings" (1974), NBER
  46. Comparable Estimates of Returns to Schooling Around The World, "Montenegro, C.", World Bank Policy Research, ~, pp.Working Paper 7020 (2014)
  47. Mulligan, C., "Galton Versus the Human Capital Approach to Inheritance", Journal of Political Economy, 107(6), pp.S184~S224 (1999)
  48. Murnane, R., "How Important are the Cognitive Skills of Teenagers in Predicting Subsequent Earnings?", Journal of Policy Analysis and Management, 19(4), pp.547~568 (2000)
  49. Petty, W., "The Economic Writings of Sir William Petty", pp.233~313, Cambridge University Press
  50. Psacharopoulos, G., "Returns to Education : An International Comparison" (1973), Jossey-Bass Inc
  51. Psacharopoulos, G., "Returns to Investment in Education : A Further Update", Education Economics, 12(2), pp.111~134 (2004)
  52. Romer, P., "Endogenous Technological Change", Journal of Political Economy, 99(5), pp.S71~S102 (1990)
  53. Schultz, T., "Investment in Human Capital", American Economic Review, 51(1), pp.1~17 (1961)
  54. Smith, A., "The Wealth of Nations", Simon and Brown
  55. West, M., "Promise and Paradox: Measuring Students’ Noncognitive Skills and the Impact of Schooling", CESifo Area Conference on Economics of Education Munich (2014), CESifo
  56. Wickens, M., "A Note on the Use of Proxy Variables", Econometrica, 40(4), pp.759~761 (1972)

관련 논문AI추천

MEASURING HUMAN CAPITAL: ALTERNATIVE METHODS AND INTERNATIONAL EVIDENCEJOHN GIBSON, LES OXLEY, TRINH LE한국경제학회 · The Korean Economic Review2008 · 제24권 제2호Being Knowledgeable or Sociable? Different Patterns of Human Capital Development and Evaluation in Cognitive and Non-cognitive Skills강창희, 이삼호한국경제학회 · The Korean Economic Review2015 · 제31권 제1호Perspectives on Human Capital in Transition김강식한국질서경제학회 · 질서경제저널2012 · 제15권 제4호Human Capital Demographic Transition and Economic GrowthHaitham Issa경제연구소 · Journal of Economic Development2005 · 제30권 제2호The Human Capital as a Factor of Competitiveness and Economic DevelopmentZaure K. Chulanova한국유통과학회 · Asian Journal of Business Environment2017 · 제7권 제3호PRODUCTIVITY GROWTH, HUMAN CAPITAL AND DISTANCE TO FRONTIER IN SUB-SAHARAN AFRICAB. OUATTARA, M. DANQUAH경제연구소 · Journal of Economic Development2014 · 제39권 제4호

이 간행물의 다른 논문 (4건)

Knowledge, Knowledge… Knowledge for My EconomyRichard B. Freemanpp. 1-21기술표준화, 정부개입, 그리고 공인인증서송영관pp. 1-32What Determines the DPRK’s Anthracite Exports to China?: Implications for the DPRK’s Economy이종규pp. 40-63Korea’s Capital Market Promotion Policies: IPOs and Other Supplementary Policy Experiences김우찬pp. 64-97
원문 보기