July 7, 2005

Human capital, R&D, and competition in macroeconomic analysis

Nieuwe impuls voor onderzoek naar arbeidsproductiviteit

Press release

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Spokesmen

Dick Morks Read more

While these ideas have been incorporated into modern growth theories and tested in empirical analyses, they have not yet found their way to applied macroeconomic models used to forecast economic developments.

In this paper, we discuss various options to include human capital, R&D, and product market competition in a macroeconomic framework. We also study how policy can affect the decisions to build human capital or to perform research, and how competition policy impacts on macroeconomic outcomes. We finally sketch how these mechanisms can be implemented into the large models used at CPB.

See also background CPB Memorandum 122, "Why should governments intervene in education, and how effective is education policy?".

Contacts

Erik Canton Read more
Bert Minne Read more
Ate Nieuwenhuis Read more
Foto Bert Smid
Bert Smid +31 6 11594311 Read more
Marc van der Steeg Read more

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