On aggregating human capital across heterogeneous cohorts

We consider a general framework for computing the aggregate human capital stock under heterogeneity across population cohorts, distinguishing between aggregate human capital stocks in the whole population and in the labor force. Based on this framework, we find that the “macro-Mincer” (log-linear) relationship between aggregate human capital and average years of schooling obtains only in cases which are inconsistent with heterogeneity in years of schooling and based on empirically implausible demographic survival laws.

• Type: Journal
• Year: 2015
• Where: MSS
• Authors: Jakub Growiec, Christian Groth
• Keywords: Hardware, MSS 2015