人力资本积累、收入分布演化与经济增长

本文建立了一个同时含有物质资本、人力资本积累及收入分布演化的内生增长模型,来研究人力资本积累、收入分布演化与经济增长的相互作用.我们发现,更高的初始收入差异将通过直接降低人力资本增长率与间接提高下一期的物质资本与人力资本比这两个渠道对经济增长率产生负面影响.另一方面,降低收入差异能获得更高的人力资本与经济增长率,这将使得低收入国家有可能追赶上高收入国家.     

内生经济增长理论框架下的市场失效与财政政策

内生经济增长理论认为,知识和人力资本的外部效应与创新带来的垄断势力推动经济增长的同时,也会带来非帕雷托最优的经济增长收入分配的不公平,将阻碍经济增长;加快知识和人力资本积累、促进技术进步以及缓解收入分配不公平的财政政策能纠正市场失效,使长期经济增长达到社会最优.     

劳动力市场歧视与高校扩招的影响--基于信号博弈模型的结构估计

本文建立了一个信号博弈模型,在该模型框架下实证研究了大学教育的人力资本积累效应对大学生收入溢价的贡献以及高校扩招对大学生非大学生收入差距的影响.基于模型的结构估计(structural estimation)证明该模型能很好地拟合大学生和非大学生的工资分布.模型的模拟结果表明:(1)大学教育的人力资本积累效应约能解释大学生工资溢价的72%;(2)与基于劳动力供给角度的分析不同,高校扩招可能通过劳动力市场歧视加剧大学生非大学生的收入差距.     

劳动力市场的性别收入不平等及女性贫困——一个人力资本和社会资本理论的双重视角

本文从动态演化的视角将贫困视为一种持续加深的非正常状态,这种状态在经济上一个显著的特征是收入低于正常人群,以缪尔达尔的循环积累因果原理为理论基础,试图通过劳动力市场上的性别收入不平等来解释女性普遍的、持续的相对贫困状态.性别差异下的劳动力收入不平等形成了女性群体与男性群体之间长期的收入差距,使得女性更易陷入相对贫困状态,造成不断加剧、难以摆脱的贫困循环.人力资本和社会资本理论是解读性别收入不平等及女性贫困的有力视角.人力资本理论视角下,家庭照料及生育责任影响女性人力资本竞争力,女性人力资本积累进程与企业需求偏差较大,生育保险责任内化为企业人力资本投资风险,女性人力资本回报率低造成人力资本投资的恶性循环.而社会资本理论通过女性资本欠缺和回报欠缺、职业机会差异和职业内收入差距两个路径解释了性别收入不平等的发生机理.     

公共教育支出与收入差异关系的研究述评

个人收入与其人力资本密切相关,公共教育支出可以通过影响教育投入来影响人力资本积累,从而影响一个国家的收入差异。文章试图对研究公共教育支出与收入差异关系的理论文献进行述评,并指出其对中国现阶段公共教育政策的指导意义。     

城镇化:经济可持续增长的新引擎——基于人力资本积累的角度

结合中国城镇化的特点,对贝克尔的人力资本模型和罗默的内生增长模型进行了调整,并以此为基础分析了城镇化通过人力资本积累影响经济增长的机制和作用效果. 研究发现,城镇化将从成本和收益两个方面影响人力资本投资决策,带来平均受教育年限的增加和人力资本专业化程度的提高,增加人力资本积累,并最终促进经济的可持续增长. 在此基础上,利用2005~2012年全国31个省份的面板数据对城镇化、人力资本积累与经济增长之间的关系进行了实证分析. 结果显示,通过人力资本积累这一途径,城镇化水平提高可以极大地促进经济增长.     

劳动力市场歧视与高校扩招的影响——基于信号博弈模型的结构估计

本文建立了一个信号博弈模型,在该模型框架下实证研究了大学教育的人力资本积累效应对大学生收入溢价的贡献以及高校扩招对大学生-非大学生收入差距的影响。基于模型的结构估计（structural estimation）证明该模型能很好地拟合大学生和非大学生的工资分布。模型的模拟结果表明：（1）大学教育的人力资本积累效应约能解释大学生工资溢价的72％;（2）与基于劳动力供给角度的分析不同,高校扩招可能通过劳动力市场歧视加剧大学生一非大学生的收入差距。     

收入风险、融资约束与人力资本积累——公共教育投资的作用

尽管改革开放以来,我国经济保持了30多年的高速增长,但与此不相匹配的是,政府对公共教育的投资远远低于世界平均水平。从人类发展的角度来看,人力资本不但是经济增长的重要投入要素,人力资本的提升本身也是经济发展的核心目的。本文通过构建教育投资的世代交叠模型,说明存在收入风险和融资约束时,居民选择的教育水平将会低于社会最优水平;政府的公共教育投资具有融资效应和保险效应。基于OECD跨国数据的实证检验表明,政府公共教育投资能够促进人力资本水平的提高,这种促进作用在收入风险较大、融资约束较强的国家效果会更为突出。结合理论推导和实证检验,本文认为,在我国市场经济尚不完善,人力资本与劳动报酬匹配程度有待提升,劳动者面临显著收入风险,收入不平等状况严重的情况下,我国应进一步扩大公共教育投资,提升公共教育投资效率,以提高我国的人力资本水平。     

教育投入比与地区经济增长差异

本文在Lucas(1988)等的基础上,将人力资本的教育投入主体分为非政府教育投入和政府教育投入两类,分析均衡条件下两类教育投入比与长期经济增长的关系,较好地刻画了在一定条件下非政府教育投入对于长期经济增长的重要意义。以此为基础,用1996—2005年中国的面板数据进行了分类比较和实证检验,结果表明,中国的政府和非政府投入对于人力资本积累和经济增长具有短期效应。在教育投入比相对较低的地区,物质资本投入是拉动经济增长主要原因,而非政府投入的增长对人力资本积累的效果更加明显。     

人力资本与教育投资

一、正确理解人力资本与教育投资的辩证关系 所谓的人力资本是靠对人的投资和受教育时放弃的收入形成的资本。它的实质是人力投资在劳动者身上的凝固,具体体现为人的工作的智能和技能,运用马克思主义观点来分析考察人力资本形成的过程。教育投资对人力资本的积累起决定性的作用,具体的关系,我认为有以下几点: 1.教育投资为人力资本增值创造了条件。教育投资是人力资本积累的基础,人力资本积累是教育投资的结果。教育投资是人力资本投资的主要部分,是人力资本积累的一种形式。人们通过受教育获得知识技能,增加了人类资本积累。人力资本的不断积累,又促进教育的发展。因此,教育投资为人力资本增值创造了条件,它可以直接推动国民收入的增加和社会生产力水平的提高。     

财政政策、货币政策与国外经济援助

本文通过把国外经济援助分成直接对私人的经济援助和直接对政府的经济援助来讨论这两类经济援助对政府财政政策和货币政策的影响。我们发现对私人的经济援助的增加可以使得私人消费水平和政府公共消费水平增加 ,但是它也导致政府收入税税率和通货膨胀率的提高 ;另一方面 ,对政府的经济援助增加可以使得均衡时的私人资本存量、私人消费水平和政府公共消费水平增加 ,同时可以使得均衡时的收入税税率和通货膨胀率下降。     

Public capital,deficit financing,and economic growth in a stochastic economy

This paper examines the relationship among deficit-financing fiscal policy, risk and economic growth in a stochastic endogenous growth model with private and public capital. We show that there are positive balanced-growth rate and a debt-to-GDP ratio that depend on deep parameters such as the income tax rate and the standard deviation of the growth rate of private and public capital. Investment and fiscal shocks influence the mean and variance of the growth rate and the debt dependency rate through portfolio changes and capital accumulation. In particular, an increase in the risk of private investment destabilizes the economy and reduces the mean growth rate if the portfolio change is drastic, and this increase in risk increases the debt-to-GDP ratio. In contrast, an increase in the income tax rate stabilizes the economy, increases the mean growth rate, and has a positive or negative effect on the debt-to-GDP ratio according to the ratio of public to private capital if the income tax rate is sufficiently small.     

Fiscal policy, long‐run growth, and welfare in a stock‐flow model of public goods

Abstract.  We introduce public capital and public services as inputs in an endogenous growth model. We show that the growth rate depends on the apportionment of tax revenues between the accumulation of public capital and the provision of public services. When public spending is financed by proportional income taxes, the growth rate, the level of public spending as a proportion of GDP, the level of investment in public capital as a proportion of total public spending, and the level of private investment as a proportion of total private spending all are lower in the equilibrium outcome than in the optimal outcome. JEL classification: E62, O40     

Should Education be Publicly Provided?

This study suggests that a subsidy in the form of public provision has the potential to be the most efficient educational policy because it stimulates investment in human capital, which would otherwise be inefficiently low because of distortionary income taxation and possible external benefits. Moreover, it can potentially do this without grossly distorting the mix of investments in human capital. Other policies do not have the potential to achieve both these ends without introducing additional, perhaps overwhelming, problems. Thus public provision of education appears to provide incentives for human capital accumulation which are more efficient than any other feasible policy.     

Heterogeneous Preferences, Education Expenditures and Income Distribution

This paper introduces heterogeneous preferences to a growth model which incorporates human capital, accumulated through either public or private education. The implications of heterogeneous preferences for income and its distribution are the focus of the paper. Public education expenditure is determined through a voting mechanism where the median preference rather than median income household is the decisive voter. The paper extends the work of Glomm and Ravikumar (1992) and shows first, that heterogeneous preferences increase income inequality in the private education model and second, public education can overcome the added heterogeneity and reduce income inequality. The results strengthen the arguments for public education as a redistributive mechanism.     

PRIVATE AND PUBLIC EDUCATION: HUMAN CAPITAL ACCUMULATION UNDER PARENTAL TEACHING*

This paper examines a simple overlapping generations model of human capital accumulation under both the public and private education regimes. Both young individuals and their parents allocate time to human capital accumulation. Under the public education regime, the government collects tax to finance expenditure for education resources. We show that there exists a level of tax which maximizes the speed of human capital accumulation because of parental teaching; and, if the government chooses tax rates adequately, human capital grows faster and welfare levels become higher under the public education regime than under the private.     

人口老龄化、公共人力资本投资与 经济增长*

本文利用内生化老龄化的世代交叠模型,探讨了老龄化社会中为了促进经济增长可选择的公共人力资本投资的最优相对规模和结构。本文研究表明,公共人力资本投资相对规模（即占GDP比例）和公共健康支出占比（即占公共人力资本投资比例）均与经济增长呈倒U型关系,且最优值通过老龄化对经济增长的作用表现出来。即当老龄化对经济增长有促进（抑制）作用时,政府促进经济增长的政策是提高（降低）人力资本投资相对规模和公共健康支出占比。基于中国省级面板数据的实证研究发现,老龄化不利于经济增长,公共人力资本投资相对规模及公共健康支出占比偏大,均处在倒U型曲线的下降阶段,分别通过挤出对经济增长更具促进作用的私人投资、公共物质资本投资和公共教育支出而不利于经济增长。本文的政策含义是,政府需提高公共教育支出占比,引导和鼓励更有效率的社会私人资本进行人力资本投资,以逐步降低公共人力资本投资的相对规模。当前公共物质资本投资则需继续加强。     

A SAVINGS SUBSIDISATION SYSTEM IN A MODEL OF ENDOGENOUS FERTILITY AND ENDOGENOUS GROWTH: AN EXTENSION OF WIGGER (1999)

Population ageing is now an established demographic characteristic of many economies. Economists working in the endogenous growth theory tradition have sought to model the relationship between public pensions, financed on a 'Pay-As-You-Go' basis, and the growth in per capita incomes. The resultant intergenerational wealth redistribution from young to older people seems to decrease private savings, diminish capital accumulation, and lower the growth of per capita incomes. The underlying transmission mechanism appears to be a crowding out effect in private capital markets contingent upon the introduction of public pension systems. A growing literature exists on the interrelationships between public pension schemes, fertility rates and endogenous growth. Following Wigger's (1999) pioneering overlapping generations endogenous growth model, we extend this model to examine the effects of a savings subsidisation system on the rate of per capita income growth, fertility and voluntary intrafamily wealth transfers, where parents view children both as an insurance good and a consumption good. Moreover, children care about the consumption levels of their parents. An increase in contributions to a savings subsidised public pension scheme will crowd out private intergenerational transfers from the young to the old and thereby negate the usefulness of children as an insurance good.     

Public Investment and Economic Growth in Latin America: an Empirical Test

The paper analyzes the impact on economic growth of public investment spending and other relevant variables (such as human capital) for nine major Latin American nations over the 1983–93 period. The results suggest that both public and private investment spending contribute to economic growth. Overall central government consumption expenditures, on the other hand, are found to have a negative effect on private investment and growth. Finally, public expenditures on education and healthcare are found to have a positive and statistically significant effect on private capital formation and long–term economic growth. From a policy standpoint, the results suggest that indiscriminate cuts in public and private investment spending are likely to be counterproductive in the long run, and more importantly, scarce public expenditures should be channeled to the promotion of new human capital (via primary and secondary education) and the maintenance of existing human capital (through healthcare expenditures).     

The growth–distribution nexus in a mixed regime of education with a status motive: On the macroeconomics of the welfare state

We develop a growth model with human capital accumulation to study the effects of status-driven motivation on individuals' choice between public or private education. This choice interacts with and exacerbates the effects of status, with implications for growth and distribution. More motivated individuals work harder and choose private education. In a majority voting/median voter setup, individuals choose a public education size for which there is no trade-off between long-term growth and inequality. We also highlight the conflict of interest between individuals with respect to the size of the public education sector and the tax rate that supports it. We thus highlight important interactions between the macroeconomy, social attitudes and educational institutions and derive results of interest in a variety contexts. We end by drawing policy conclusions among which, the idea that in democracies, higher growth and lower inequality are mutually compatible when the government promotes public education.