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Working Paper
Human capital and technology diffusion
Spiegel, Mark M.; Benhabib, Jess (2002)
This paper generalizes the Nelson-Phelps catch-up model of technology diffusion. We allow for the possibility that the pattern of technology diffusion can be exponential, which would predict that nations would exhibit positive catch-up with the leader nation, or logistic, in which a country with a sufficiently small capital stock may exhibit slower total factor productivity growth than the leader nation. ; We derive a nonlinear specification for total factor productivity growth that nests these two specifications. We estimate this specification for across-section of nations from 1960 through ...
Working Paper Series , Paper 2003-02

Newsletter
Regional growth in worker quality
Aaronson, Daniel; Sullivan, Daniel G. (2003-05)
Chicago Fed Letter , Issue May

Working Paper
The poor, the rich and the enforcer: institutional choice and growth
Quintin, Erwan; Koeppl, Thorsten; Monnet, Cyril (2008)
We study economies where improving the quality of institutions ? modeled as improving contract enforcement ? requires resources, but enables trade that raises output by reducing the dispersion of marginal products of capital. We find that in this type of environment it is optimal to combine institutional building with endowment redistribution, and that more ex-ante dispersion in marginal products increases the incentives to invest in enforcement. In addition, we show that institutional investments lead over time to a progressive reduction in inequality. Finally, the framework we describe ...
Working Papers , Paper 0801

Speech
Impact of the Great Recession on public schools in the region
Dudley, William (2012)
Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Speech , Paper 74

Working Paper
Who Values Access to College?
Ionescu, Felicia; Vidangos, Ivan; Neelakantan, Urvi; Athreya, Kartik B. (2019-03-07)
A first glance at US data suggests that college -- given its mean returns and sharply subsidized cost for all enrollees -- could be of great value to most. Using an empirically-disciplined human capital model that allows for variation in college readiness, we show otherwise. While the top decile of valuations is indeed large (40 percent of consumption), nearly half of high school completers place zero value on access to college. Subsidies to college currently flow to those already best positioned to succeed and least sensitive to them. Even modestly targeted alternatives may therefore improve ...
Finance and Economics Discussion Series , Paper 2019-015

Working Paper
Human capital accumulation, fertility and growth: a re-analysis
Iyigun, Murat F. (1995)
This paper develops an economic growth model with endogenous fertility. In doing so, it provides a new explanation for the relation between fertility, economic development and human capital accumulation. The model emphasizes the role returns on human capital play in economic development through individuals' allocation of time between acquiring human capital and production and rearing of children. In the model, production and rearing children are time intensive and accumulating human capital requires time and has a cost. Individuals' stock of human capital depends positively on the time ...
International Finance Discussion Papers , Paper 523

Journal Article
To bear, or not to bear: is that an economics question?
Wall, Howard J.; Skiba, Paige M. (2001-07)
Weighing the costs vs. the benefits of having children may seem like a cold-blooded exercise. Yet such an analysis can help us understand not only such private decisions but public policies, too.
The Regional Economist , Issue Jul , Pages 10-11

Journal Article
Human capital and higher education: how does our region fare?
Schiller, Timothy G. (2008-01)
The number of people in a given state or region with a college education varies across the nation. States in the Third Federal Reserve District (Pennsylvania, New Jersey, and Delaware) compare favorably with the nation on measures of college education and the three states as a whole are close to the national average. Despite its average ranking in educational attainment, the area is a premier location for colleges and universities. In ?Human Capital and Higher Education: How Does Our Region Fare?? Tim Schiller evaluates the region?s standing with respect to college education by reviewing data ...
Business Review , Issue Q1 , Pages 16-26

Working Paper
Human capital and economic development
Tamura, Robert (2002)
This paper develops a general equilibrium model of fertility and human capital investment under uncertainty. Uncertainty exists in the form of a probability that a young adult does not survive to old age. Parents maximize expected utility arising from own consumption, their fertility, and the discounted utility of future generations. There exists a precautionary demand for children. Young adult mortality is negatively related to the average human capital of young adults. Therefore, rising human capital leads to falling mortality, which eventually induces a demographic transition and an ...
FRB Atlanta Working Paper , Paper 2002-5

Working Paper
Educational achievement and economic growth: evidence from Taiwan
Wang, Ping; Tallman, Ellis W. (1993)
FRB Atlanta Working Paper , Paper 93-11

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