NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Measuring the Stock of Human Capital for International and Inter-temporal Comparisons

Gang Liu


This chapter is a preliminary draft unless otherwise noted. It may not have been subjected to the formal review process of the NBER. This page will be updated as the chapter is revised.

Chapter in forthcoming NBER book Measuring Economic Sustainability and Progress, Dale W. Jorgenson, J. Steven Landefeld, and Paul Schreyer, editors
Conference held August 6-8, 2012
Forthcoming from University of Chicago Press
in NBER Book Series Studies in Income and Wealth

This paper summarizes the outcomes of the OECD human capital project. In so doing, it discusses the feasibility of applying the lifetime income approach to measuring human capital for comparative analysis, both across countries and over time. It also examines the feasibility of applying the methodology to the categorical data (i.e. by 5-year or 10-year age group) that are available within the OECD statistics system, rather than to data by single year of age required by the original Jorgenson-Fraumeni methodology. The results in this paper indicate that the estimated value of human capital is substantially larger than that of conventional produced capital. Ratios of human capital to GDP are in a range from around eight to over ten across countries, in line with those reported in a number of national studies. The distributions of human capital by age, gender, and education reveal a few important conclusions. While higher educational attainment contributed positively to the change of human capital per capita, this is not always sufficient to offset the negative effect of population ageing; as a result, the volume of human capital per capita appeared to have declined in some countries over the observed period.

download in pdf format
   (559 K)

email paper

This paper is available as PDF (559 K) or via email.

This paper was revised on September 9, 2013

Machine-readable bibliographic record - MARC, RIS, BibTeX

Users who downloaded this chapter also downloaded these:
Christian Human Capital Accounting in the United States: Context, Measurement, and Application
Becker Investment in Human Capital: Effects on Earnings
Jorgenson and Fraumeni The Accumulation of Human and Nonhuman Capital, 1948-84
Mulligan and Sala-i-Martin w5016 Measuring Aggregate Human Capital
Jones w17487 The Human Capital Stock: A Generalized Approach
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us