NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Education, Skills, and Technical Change, and Future US GDP Growth - Introduction

Charles R. Hulten, Valerie A. Ramey


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 Education, Skills, and Technical Change: Implications for Future US GDP Growth, Charles R. Hulten and Valerie A. Ramey, editors
Conference held October 16-17, 2015
Forthcoming from University of Chicago Press
in NBER Book Series Studies in Income and Wealth

This introduction provides an overview of the key facts and the conceptual links between education, skill formation, technical change and economic growth. It begins by summarizing the leading theoretical channels through which human capital accumulation contributes to economic growth, including its role in creating and diffusing new technologies. An assessment of the current state of education and skill accumulation in the U.S. follows, with comparisons of U.S. performance to that of other industrialized countries. The introduction then offers ten conclusions by the coeditors, based on the new findings of the twelve papers as well as the coeditors’ own reading of the literature. The final part of the introduction provides a brief summary of the twelve papers and how their findings inform the larger questions.

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