Crises and human capital accumulation
- Author
- Freddy Heylen (UGent) and Lorenzo Pozzi
- Organization
- Abstract
- This paper studies the effects of crises on human capital formation. Theoretically, a crisis undermines total factor productivity, which reduces the return to working and to accumulating physical capital. If the crisis is temporary, young agents will study now and work later. Human capital rises. To test our model we rely on inflation crises as our main empirical proxy. Using GMM panel procedures, our analysis for 86 countries in 1970-2000 confirms the positive effects of crises on human capital. Our main findings survive several robustness tests. JEL classification: E31, D90.
- Keywords
- LONG-RUN GROWTH, ECONOMIC-GROWTH, INFLATION CRISES, MODEL, TAXATION
Citation
Please use this url to cite or link to this publication: http://hdl.handle.net/1854/LU-393552
- MLA
- Heylen, Freddy, and Lorenzo Pozzi. “Crises and Human Capital Accumulation.” CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE, vol. 40, no. 4, 2007, pp. 1261–85.
- APA
- Heylen, F., & Pozzi, L. (2007). Crises and human capital accumulation. CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE, 40(4), 1261–1285.
- Chicago author-date
- Heylen, Freddy, and Lorenzo Pozzi. 2007. “Crises and Human Capital Accumulation.” CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE 40 (4): 1261–85.
- Chicago author-date (all authors)
- Heylen, Freddy, and Lorenzo Pozzi. 2007. “Crises and Human Capital Accumulation.” CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE 40 (4): 1261–1285.
- Vancouver
- 1.Heylen F, Pozzi L. Crises and human capital accumulation. CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE. 2007;40(4):1261–85.
- IEEE
- [1]F. Heylen and L. Pozzi, “Crises and human capital accumulation,” CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE, vol. 40, no. 4, pp. 1261–1285, 2007.
@article{393552,
abstract = {{This paper studies the effects of crises on human capital formation. Theoretically, a crisis undermines total factor productivity, which reduces the return to working and to accumulating physical capital. If the crisis is temporary, young agents will study now and work later. Human capital rises. To test our model we rely on inflation crises as our main empirical proxy. Using GMM panel procedures, our analysis for 86 countries in 1970-2000 confirms the positive effects of crises on human capital. Our main findings survive several robustness tests. JEL classification: E31, D90.}},
author = {{Heylen, Freddy and Pozzi, Lorenzo}},
issn = {{0008-4085}},
journal = {{CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE}},
keywords = {{LONG-RUN GROWTH,ECONOMIC-GROWTH,INFLATION CRISES,MODEL,TAXATION}},
language = {{eng}},
number = {{4}},
pages = {{1261--1285}},
title = {{Crises and human capital accumulation}},
volume = {{40}},
year = {{2007}},
}