Chapter 8 The Social Value of Education and Human Capital

Lange, Fabian; Topel, Robert H.

doi:10.1016/s1574-0692(06)01008-7

Cited by 162 publications

(140 citation statements)

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“…One of the most important determinants of the local human capital level is the presence of colleges and 1 Critical reviews of the literature on human capital externalities are provided by Moretti (2004a), Lange and Topel (2006), and Henderson (2007). 2 Alternatively, Florida, Mellander and Stolarick (2008) argue for the primary importance of a "creative class" of artists and workers employed in creative occupations.…”

Section: Introductionmentioning

confidence: 99%

Human capital, higher education institutions, and quality of life

Winters

2011

Regional Science and Urban Economics

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This paper considers the effects of the local human capital level and the presence of higher education institutions on the quality of life in U.S. metropolitan areas. The local human capital level is measured by the share of adults with a college degree, and the relative importance of higher education institutions is measured by the share of the population enrolled in college. This paper finds that quality of life is positively affected by both the local human capital level and the relative importance of higher education institutions. Furthermore, these effects persist when these two measures are considered simultaneously, even though the two are highly correlated. That is the human capital stock and higher education institutions have a shared effect and also separate effects on quality of life.JEL Classification: R13, R23, J31

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Section: Introductionmentioning

confidence: 99%

Human capital, higher education institutions, and quality of life

Winters

2011

Regional Science and Urban Economics

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“…Acemoglu and Angrist (2000) find that almost all of the returns to education are private, while Moretti's (2004) findings imply that the macro impact of education is close to four times the private rate of return. Lange and Topel (2006) conclude that there is no evidence that social returns are smaller than private ones, yet neither is there much to suggest that they are larger.…”

Section: Efficiencymentioning

confidence: 80%

Financing Lifelong Learning

Oosterbeek¹

2008

Policy Research Working Papers

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“…The current consensus is that education affects income per se and is not simply a proxy for unobserved ability (Blundell et al 2005;Card, 1999Card, , 2001Harmon & Walker, 2003). There is likely to be 3 some role for signalling, but of modest magnitude relative to overall impacts (Lange & Topel, 2006) 1 . These issues are discussed in detail in Hermannsson et al (2014).…”

Section: Previous Research Into the Macroeconomic Impact Of Educationmentioning

confidence: 99%

How much does a single graduation cohort from further education colleges contribute to an open regional economy?

Hermannsson

Lecca

Swales

2017

Spatial Economic Analysis

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Econometric analysis has been inconclusive in determining the contribution that increased skills have on macroeconomic performance whilst conventional growth accounting approaches to the same problem rest on restrictive assumptions. We propose an alternative micro-to-macro method which combines elements of growth accounting and numerical general equilibrium modelling. The usefulness of this approach for applied education policy analysis is demonstrated by evaluating the macroeconomic impact on the Scottish economy of a single graduation cohort from further education colleges. We find the macroeconomic impact to be significant. From a policy point of view this supports a revival of interest in the conventional teaching role of education institutions.

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Chapter 8 The Social Value of Education and Human Capital

Cited by 162 publications

References 50 publications

Human capital, higher education institutions, and quality of life

Human capital, higher education institutions, and quality of life

Financing Lifelong Learning

How much does a single graduation cohort from further education colleges contribute to an open regional economy?

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