Human Capital in the United States from 1975 to 2000: Patterns of Growth and Utilization

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W.E. Upjohn Institute, 2003 - Business & Economics - 229 pages
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In this study, the authors develop an indicator of the value of human capital stock held by the nation's working-age populaiton. They then use that indicator to assess the utilization of the nation's human capital stock overall and by a number of demographic subgroups. This serves to complement the many existing indicators that measure the U.S. economy's capital utilization.
 

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Contents

Introduction
1
OBJECTIVES OF THE STUDY
5
A BACKDROP
6
ORGANIZATION OF THE VOLUME
13
Notes
16
Indicators of the Nations Production Capacity and Utilization
21
AGGREGATE NATIONAL PRODUCTIVE CAPACITY
22
PRIVATE BUSINESS CAPITAL STOCK
24
19752000
100
SUMMARY AND CONCLUSIONS
112
Notes
115
Earnings Capacity and Its Utilization for Race Education and Age Groups Levels and Trends 19752000
129
SCHOOLING PATTERNS
133
AGE PATTERNS
138
SUMMARY AND CONCLUSIONS
142
Notes
143

HUMAN CAPITAL STOCK
26
INDICATORS OF THE UTILIZATION OF CAPACITY
30
SUMMARY OF PRODUCTIVE CAPACITY AND UTILIZATION PATTERNS
35
Notes
38
The Concept of Human Capital A Framework
43
A SOCIAL BENEFIT AND COST FRAMEWORK
44
THE AGGREGATE VALUE OF THE HUMAN CAPITAL STOCK
52
Notes
55
The Concept of Human Capital Theoretical Underpinnings and Empirical Estimates
57
EMPIRICAL CONTRIBUTIONS
64
ALTERNATIVE ESTIMATES OF THE US HUMAN CAPITAL STOCK
70
Notes
72
Earnings Capacity as an Indicator of Human Capital
77
WHY THE EC INDICATOR OF HUMAN CAPITAL?
81
A SUMMARY DESCRIPTION
82
A MORE FORMAL STATEMENT
84
EARNING CAPACITY IN THE CONTEXT OF THE HUMAN CAPITAL FRAMEWORK
86
Notes
88
Aggregate EC Utilization and the Sources of Nonuse Levels and Trends 19752000
91
19752000
94
19752000
95
Earnings Capacity and Its Utilization for Vulnerable Groups Levels and Trends 19752000
147
THE LEVEL AND TREND OF HUMAN CAPITAL OF LOWEDUCATION OLDER WORKERS
152
CAPACITY UTILIZATION PATTERNS AMONG LOWEDUCATION YOUTHS
155
CAPACITY UTILIZATION PATTERNS AMONG LOWEDUCATION OLDER WORKERS
160
SUMMARY AND CONCLUSIONS
162
Notes
164
Measuring Levels Trends and Utilization of Human Capital Conclusions and Policy Insights
169
PRESUMPTIONS UNDERLYING THE EC INDICATOR
170
OBJECTIVES AND USES OF THE EC INDICATOR
173
A REVIEW OF FINDINGS ON HUMAN CAPITAL LEVELS AND UTILIZATION
176
SOME POLICY INSIGHTS
182
Note
185
The Estimation of EC
187
Appendix B
193
Attribution of Unrealized Potential Earnings to Its Sources
207
References
211
The Authors
217
Index
219
About the Institute
229
Copyright

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About the author (2003)

Robert H. Haveman is John Bascom Professor of Economics and Public Affairs, University of Wisconsin at Madison.

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