| 000 -LEADER |
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| fixed length control field |
01473nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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221214b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Abraham, Katharine G. and Mallatt, Justine |
| 245 ## - TITLE STATEMENT |
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| Title |
Measuring human capital |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
The Journal of: Economic Perspectives |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
36(3), Sumner, 2022: p.103-130 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
We review the existing literature on the measurement of human capital. Broadly speaking, economists have proposed three approaches to constructing human capital measures—the indicator approach, the cost approach, and the income approach. Studies employing the indicator approach have used single measures such as average years of schooling or indexes of multiple measures. The cost approach values human capital investments based on spending. The income approach values human capital investments by looking forward to the increment to expected future earnings they produce. The latter two approaches have the significant advantage of consistency with national income accounting practices and measures of other types of capital. Measures based on the income approach typically yield far larger estimates of the value of human capital than measures based on the cost approach. We outline possible reasons for this discrepancy and show how changes in assumptions can reconcile estimates based on the two approaches. – Reproduced |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
The Journal of: Economic Perspectives |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
HUMAN CAPITAL |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
