Alternative specifications of human capital in production functions

  1. Luis Orea 1
  2. Antonio Alvarez 1
  1. 1 University of Oviedo, Spain
Revista:
Economics and Business Letters

ISSN: 2254-4380

Año de publicación: 2022

Volumen: 11

Número: 4

Páginas: 172-179

Tipo: Artículo

DOI: 10.17811/EBL.11.4.2022.172-179 DIALNET GOOGLE SCHOLAR lock_openDialnet editor

Otras publicaciones en: Economics and Business Letters

Resumen

In this paper we argue that some empirical specifications may not be appropriate to estimate accurately the returns to human capital. In particular, we show that the inclusion in aggregate production functions of the ratio of skilled labor force over total labor force as a proxy for human capital may not be a good way to control for the heterogeneity of labor.

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