Publikace na Fakulta sociálních věd, Matematicko-fyzikální fakulta, Centrum pro ekonomický výzkum a doktorské studium |
2015
Abstrakt
In this article, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy's composition of specific and general human capital, in a model where education and research and development are costly and complementary activities.
The model suggests that a declining share of specific human capital, as observed in the Czech Republic, can be associated with a lower rate of long-term growth. We also discuss optimal educational policies in the presence of market frictions.