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Human Capital Investment (human + capital_investment)
Selected AbstractsAmerican Business and Political Power: Public Opinion, Elections and Democracy; Stuck in Neutral: Business and the Politics of Human Capital investment; Does Business Learn?JOURNAL OF POLICY ANALYSIS AND MANAGEMENT, Issue 4 2001Graham K. Wilson [source] CAN THE HUMAN CAPITAL APPROACH EXPLAIN LIFE-CYCLE WAGE DIFFERENTIALS BETWEEN RACES AND SEXES?ECONOMIC INQUIRY, Issue 1 2007HUOYING WU Using data from the National Longitudinal Survey of Youth,1979 cohort (NLSY79), this paper shows the importance of postschool human capital investment in describing both gender and racial wage gaps. The empirical results suggest that male-female wage gaps, regardless of race, are mainly caused by gender differences in the human capital production process; generally, men gain more work experience and therefore have lower marginal costs of human capital production. Black-white lifetime wage differentials could partly result from higher implicit interest rates for blacks, while the deterioration of black males' relative economic status as they age can be attributed to higher depreciation rates of their human capital stock. (JEL J24, J30, C61) [source] Immigration Policy, Equilibrium Unemployment, and Underinvestment in Human CapitalLABOUR, Issue 1 2009Christian Lumpe We analyse the impact of different immigration policies on human capital investment in a search-theoretic model. This class of models features unemployment and underinvestment in human capital. The underinvestment in human capital can be solved by combining immigration policy with appropriate education subsidies. Extending the model with respect to different skill groups allows to analyse the observed bimodal skilled immigration of the USA. [source] Why Do Women's Wages Increase So Slowly Throughout Their Career?LABOUR, Issue 2 2008A Dynamic Model of Statistical Discrimination We provide a dynamic model of statistical discrimination, which integrates specific human capital decisions: on-the-job training investment and wages are endogenously determined. We reveal a small wage differential at the beginning of women's career, but women's wages increase more slowly; this is partly due to a lower level of human capital investment by women and partly because firms smooth training costs between different periods. [source] Investment in Fixed Capital Stock: Testing for the Impact of Sectoral and Systemic Uncertainty*OXFORD BULLETIN OF ECONOMICS & STATISTICS, Issue 2 2004Johannes Fedderke Abstract This paper applies current theory recognizing the irreversibility of investment, in order to test for the impact of uncertainty on investment expenditure for a middle income country. The contribution of the paper is unique in two respects. First, it employs dynamic heterogeneous panel estimation techniques not previously applied to investment functions. Secondly, it explicitly tests for the impact of both sectoral and systemic uncertainty on investment expenditure. We find that both sectoral (as measured by output volatility) and systemic uncertainty (as measured by political instability) have a negative impact on investment rates in a middle income country context. Liquidity constraints and growth in total factor productivity are found to have no impact on investment, while trade liberalization has the impact predicted by Heckscher-Ohlin trade theory. Finally, we find complementarity effects between physical capital and skilled human capital, suggesting that South African educational policies may have hampered investment in physical capital as well as the growth performance of the economy. Policy implications emphasize the importance of lowering uncertainty for investors, and the need for sound human capital investment. [source] WAGE GROWTH, HUMAN CAPITAL AND FINANCIAL INVESTMENT,THE MANCHESTER SCHOOL, Issue 6 2005SARAH BROWN The aim of this paper is to explore the relationship between wage growth, human capital and investment in financial assets at the individual level. We investigate this relationship using data from five waves of the British Household Panel Survey. We exploit panel data enabling us to determine the change in real wages experienced by individuals across four different time horizons, 1995,96, 1995,98, 1995,1700 and 1700,1. Our findings support a positive association between financial assets and wage growth with this relationship becoming more pronounced over time. In addition, our results suggest that investment in financial assets is positively associated with returns to human capital investment. [source] Accounting for Investments in Human Capital: A ReviewAUSTRALIAN ACCOUNTING REVIEW, Issue 3 2010Anne Wyatt This paper provides an overview of the human capital literature, focusing on the firm's incentives and disincentives to invest in human capital and subsequently to account for the investments. The evidence suggests human capital investment decisions are intrinsically linked to the success of a business and ultimately to the probability of survival. However, disclosure is largely a voluntary choice by managers as there are few formal disclosure requirements. The conclusion from the evidence shows that the benefits to stakeholders of disclosing information relating to human capital investment are likely to outweigh the costs and suggests a wide range of topics for future research. [source] Why is the rate of single-parenthood lower in Canada than in the U.S.?CANADIAN JOURNAL OF ECONOMICS, Issue 1 2009A dynamic equilibrium analysis of welfare policies Restricting aid to single mothers, for instance, has the potential to distort behaviour along three demographic margins: marriage, fertility, and divorce. We contrast the Canadian and the U.S. policies within an equilibrium model of household formation and human capital investment on children. Policy differences we consider are eligibility, dependence of transfers on the number of children, and generosity of transfers. Our simulations indicate that the policy differences can account for the higher rate of single-parenthood in the U.S. They also show that Canadian welfare policy is more effective for fostering human capital accumulation among children from poor families. Interestingly, a majority of agents in our benchmark economy prefers a welfare system that targets single mothers (as the U.S. system does), yet (unlike the U.S. system) does not make transfers dependent on the number of children. Une question critique dans le design des politiques sociales est à savoir s'il faut cibler l'aide selon la composition du ménage, comme on le fait aux Etats-Unis dans le cadre du programme Aid to Families with Dependent Children (AFDC) ou s'en remettre exclusivement à une enquête sur les ressources disponibles. Limiter l'aide aux mères monoparentales, par exemple, peut influencer le comportement à la marge selon trois axes démographiques: mariage, fécondité, divorce. On compare les politiques canadienne et américaine dans le cadre d'un modèle d'équilibre de formation des ménages et d'investissement en capital humain dans les enfants. Les différences dans les politiques portent sur l'éligibilité, la dépendance des transferts sur le nombre d'enfants, et la générosité des transferts. Les simulations indiquent que les différences dans les politiques peuvent expliquer le plus haut taux de monoparentalité aux Etats-Unis. On montre aussi que la politique canadienne est plus effective pour encourager l'accumulation du capital humain dans les enfants des familles pauvres. On note qu'une majorité des agents dans l'économie de référence préfère une politique qui cible les mères monoparentales (comme on le fait aux Etats-Unis) mais qui (contrairement à ce qui se fait aux Etats-Unis) ne rend pas les transferts dépendants du nombre d'enfants. [source] HEALTH, EDUCATION, AND LIFE CYCLE SAVINGS IN THE DEVELOPMENT PROCESSECONOMIC INQUIRY, Issue 3 2007KAM KI TANG This paper studies investment in health and human capital in a life cycle model. Health investment enhances survival to old age by improving health from its endowed level. The model predicts two distinctive phases of development. When income is low enough, the economy has no health investment and little savings, leading to slow growth. When income grows, health investment will become positive and the saving rate will rise, leading to higher life expectancy and faster growth. A health subsidy can move the economy from the first phase to the next. Subsidies on health and human capital investments can improve welfare. (JEL I00, J10, H50, O10) [source] Long work hours: a social identity perspective on meta-analysis dataJOURNAL OF ORGANIZATIONAL BEHAVIOR, Issue 7 2008Thomas W. H. Ng The current study utilizes social identity theory to investigate employees' work hours. Specifically, we use meta-analysis to examine the relationships between hours worked and indicators of organizational identity (e.g., organizational support and tenure), occupational identity (e.g., human capital investments and work centrality), and family identity (e.g., family responsibilities and family satisfaction). The meta-analysis also allowed us to explore other important correlates of hours worked (e.g., situational demands, job performance, mental health, and physical health), moderating variables (e.g., age, gender, and job complexity), and curvilinear relationships of work hours to social identity indicators. Overall, we found that occupational factors and situational demands had the strongest relationships with hours worked, hours worked were negatively associated with measures of employee well-being, gender had several significant moderating effects, and there were curvilinear relationships between hours worked and well-being and work,family conflict variables. The article concludes with directions for future theoretical and empirical research. Copyright © 2008 John Wiley & Sons, Ltd. [source] LOCATION-SPECIFIC HUMAN CAPITAL, LOCATION CHOICE AND AMENITY DEMAND,JOURNAL OF REGIONAL SCIENCE, Issue 5 2009Douglas J. Krupka ABSTRACT The role of amenities in the flow of migrants has long been a subject of debate. This paper advances an original model of amenities that work through household production instead of directly through utility. Area characteristics (amenities) affect household production, causing certain kinds of human capital investments to be rewarded more than others. Area heterogeneity thus makes such investments location-specific. This specificity,along with a period of exogenous location,increases the opportunity costs of moving, diminishes migration flows between dissimilar locations and increases valuation of amenities that were present in the originating area. These theoretical results emphasize people's sorting across areas and thus differ from the results of the standard model of compensating differentials. Empirical tests of the model's predictions using NLSY79 data show that childhood investments affect migration flows in the way proposed by the model. [source] When Predictions Fail: The Case of Unexpected Pathways Toward High School DropoutJOURNAL OF SOCIAL ISSUES, Issue 1 2008Linda S. Pagani This study examines childhood variables that tend to deflect life-course trajectories away from finishing high school. We examined unexpectedly graduating in the presence of three empirical risk factors (having a mother that did not finish high school, being from a single-parent family in early childhood, and having repeated a grade in primary school) and unexpectedly not graduating in the absence these same factors (low risk). The comparison groups comprised individuals who expectedly did not graduate (first case) and expectedly graduated (second case). We found that having experienced all three factors practically guaranteed not finishing high school, thus defining a crystal clear target group for policy. Without screening, intervention, and follow-up, individuals facing such cumulative risk are most unlikely to graduate. We also found a group of males and females that did not finish high school despite not having these three risk factors. These missed estimates become nontrivial once they are translated into a population-level statistic of lost human capital investments. Specific family and individual factors helped explain the unexpected life course toward not finishing high school, especially for low-risk males and females. Our results suggest policies that support childhood screening for attention-related difficulties and helping parents better understand supervision during adolescence. [source] Severance Payments and Firm,specific Human CapitalLABOUR, Issue 1 2003Jens Suedekum What effect does employment protection through severance payments have on the behaviour of employed workers? We analyse this issue within a stochastic two,period framework where workers decide on human capital investments and find two competing effects: severance payments imply higher job security that fosters human capital formation. At the same time, a lay,off is perceived by the workers to be a weaker penalty if severance payments are provided. This incentive lowers their optimal amount of firm,specific investments. Which effect prevails on balance depends on the distribution of investment returns among firm and workers. For strong positive reactions, employment protection is also in the interests of the firm. [source] | ||||||||||