Education and growth with learning by doing

G. Marconi, A. de Grip

Research output: Working paperProfessional

250 Downloads (Pure)

Abstract

In this paper, we develop a general equilibrium overlapping generations model which is based on the view that education makes workers more productive by increasing their ability to learn from work experience, rather than providing skills that directly increase productivity. This assumption is discussed and compared with the dominant "Mincerian" view on the education-productivity relationship. One important implication of the model is that the enrolment rate to education has a negative effect on the GDP in the medium term and a positive effect in the long term. This could be an explanation for the weak empirical relationship between education and economic growth that has been found in the empirical macroeconomic literature. Conversely, for a given enrolment rate, the quality of education, as measured by workers’ ability to learn, has a positive effect on the GDP both in the medium and in the long term.
Original languageEnglish
Place of PublicationMaastricht
PublisherResearch Centre for Education and the Labour Market
Publication statusPublished - 1 Jan 2014

Cite this

Marconi, G., & de Grip, A. (2014). Education and growth with learning by doing. Maastricht: Research Centre for Education and the Labour Market.
Marconi, G. ; de Grip, A. / Education and growth with learning by doing. Maastricht : Research Centre for Education and the Labour Market, 2014.
@techreport{e0e4a48efb1745ce8d5f26f7ca9b0caa,
title = "Education and growth with learning by doing",
abstract = "In this paper, we develop a general equilibrium overlapping generations model which is based on the view that education makes workers more productive by increasing their ability to learn from work experience, rather than providing skills that directly increase productivity. This assumption is discussed and compared with the dominant {"}Mincerian{"} view on the education-productivity relationship. One important implication of the model is that the enrolment rate to education has a negative effect on the GDP in the medium term and a positive effect in the long term. This could be an explanation for the weak empirical relationship between education and economic growth that has been found in the empirical macroeconomic literature. Conversely, for a given enrolment rate, the quality of education, as measured by workers’ ability to learn, has a positive effect on the GDP both in the medium and in the long term.",
author = "G. Marconi and {de Grip}, A.",
year = "2014",
month = "1",
day = "1",
language = "English",
publisher = "Research Centre for Education and the Labour Market",
type = "WorkingPaper",
institution = "Research Centre for Education and the Labour Market",

}

Marconi, G & de Grip, A 2014 'Education and growth with learning by doing' Research Centre for Education and the Labour Market, Maastricht.

Education and growth with learning by doing. / Marconi, G.; de Grip, A.

Maastricht : Research Centre for Education and the Labour Market, 2014.

Research output: Working paperProfessional

TY - UNPB

T1 - Education and growth with learning by doing

AU - Marconi, G.

AU - de Grip, A.

PY - 2014/1/1

Y1 - 2014/1/1

N2 - In this paper, we develop a general equilibrium overlapping generations model which is based on the view that education makes workers more productive by increasing their ability to learn from work experience, rather than providing skills that directly increase productivity. This assumption is discussed and compared with the dominant "Mincerian" view on the education-productivity relationship. One important implication of the model is that the enrolment rate to education has a negative effect on the GDP in the medium term and a positive effect in the long term. This could be an explanation for the weak empirical relationship between education and economic growth that has been found in the empirical macroeconomic literature. Conversely, for a given enrolment rate, the quality of education, as measured by workers’ ability to learn, has a positive effect on the GDP both in the medium and in the long term.

AB - In this paper, we develop a general equilibrium overlapping generations model which is based on the view that education makes workers more productive by increasing their ability to learn from work experience, rather than providing skills that directly increase productivity. This assumption is discussed and compared with the dominant "Mincerian" view on the education-productivity relationship. One important implication of the model is that the enrolment rate to education has a negative effect on the GDP in the medium term and a positive effect in the long term. This could be an explanation for the weak empirical relationship between education and economic growth that has been found in the empirical macroeconomic literature. Conversely, for a given enrolment rate, the quality of education, as measured by workers’ ability to learn, has a positive effect on the GDP both in the medium and in the long term.

M3 - Working paper

BT - Education and growth with learning by doing

PB - Research Centre for Education and the Labour Market

CY - Maastricht

ER -

Marconi G, de Grip A. Education and growth with learning by doing. Maastricht: Research Centre for Education and the Labour Market. 2014 Jan 1.