THE RETURNS TO ENDOGENOUS HUMAN CAPITAL IN PAKISTAN'S RURAL WAGE LABOUR MARKET

This paper estimates the private returns to human capital in Pakistani rural labour markets. The rich data used permit inclusion of several dimensions of human capital and control for endogeneity resulting from investment in human capital. The results suggest that, without data on determinants of human capital, it would not be possible to disentangle the separate effect of each dimension of human capital on wage differentials nor to distinguish human capital explanations for wage differentials from signalling and credentialist models. With control for endogeneity of human capital and selectivity into wage employment, cognitive achievement, but not schooling attainment separate from cognitive achievement nor long-run health status, affects wage differentials.     

HUMAN CAPITAL MEASUREMENT: A SURVEY

Abstract After a short history of the concept of human capital (henceforth HC) in economic thought ( Section 1 ), this study presents the two main methods for estimating the value of the stock of HC – the retrospective and prospective one – with a review of the models proposed ( Section 2 ). These methods are linked both to the theory of HC investment as a rational choice ( Section 3 ), the literature analysing the contribution of HC investment to economic growth and the HC estimating method through educational attainment ( Section 4 ). The more recent literature on HC as a latent variable is also assessed ( Section 5 ) and a new method of estimation where HC is seen both as an unknown function of formative indicators and as a ‘latent effect’ underlying earned income is proposed ( Section 6 ). Section 7 concludes.     

高技术产业的人力资本运作

<纽约时报>作家弗莱德·穆迪曾说:微软惟一的生产资本是人的想象力.知识存在于员工的头脑中,企业是无法拥有和控制的.只有人的价值受到普遍尊重,才会激发人的创造性,新观念、新创意才会源源不断地产生,进而成为推动高技术产业发展的原动力.     

如何经营你的人力资本

有句话说得好,最有价值的判断就是对人的判断,也是最难的判断,因为每一个项目,每一项投资其实都在跟人打交道。资源本身是死的,但资源背后是人,所以在资本运作的过程中,最根本的一点是如何来驾驭人,如何形成团队。有人说,现在,中国企业面临的外界冲突和管理危机中,第一个冲突是人才的冲突。现在中国最多的是人,而最缺的也是人,缺人才。事实真如此吗?那要看你怎样引进人才和怎样管理人才,如何经营你的人力资本！     

DETAILED ESTIMATION OF WORKLIFE EXPECTANCY FOR THE MEASUREMENT OF HUMAN CAPITAL: ACCOUNTING FOR MARRIAGE AND CHILDREN

Abstract Measuring an individual's human capital at a point in time as the present actuarial value of expected net lifetime earnings has a lengthy history. Calculating such measures requires accurate estimates of worklife expectancy. Here, worklife estimates for men and women in the USA categorized by educational attainment, race, marital status, parental status and current labour force status are presented. Race has a much larger impact on the worklife expectancy of men than women. Education is associated with larger worklife differentials for women. The association between marriage and worklife expectancy is significant, but of opposite sign, for men and women: married women (men) have a lower (higher) worklife expectancy than single women (men). Parenthood is associated with a reduction in the worklife expectancy of women; the association is smaller and varies from positive for some education/marital status groups to negative for others for men.     

富力盈信大厦：后新政时代资产安全岛

新政后,富力盈信大厦备受市场宠爱,成交量节节攀升。据记者了解,富力盈信大厦是富力集团在珠江新城中轴线的又一CBD超甲级写字楼,是继富力中心、富力无限极中心后,珠江新城中轴黄金地段超甲级写字楼＂队列＂的一员。除了占据CBD中轴线绝佳区位优势外,     

ALCOHOL CONSUMPTION AND HUMAN CAPITAL: A RETROSPECTIVE STUDY OF THE LITERATURE

Abstract Grossman proposed an individual's health can be viewed as one aspect of their human capital. Following this line of thought a number of recent papers have reported a positive impact of alcohol consumption on earnings. The rationale for the existence of such a relationship is the positive impact of alcohol on physical and mental health. We conduct a meta‐analysis to determine whether such factors as: the estimation technique, the presence of ex‐drinkers in the sample, possible sample selection bias and publication bias may all contribute to these findings. An additional suggestion for the positive relationship between alcohol and wages is the presence of a common set of personality traits that determines drinking behaviour and also leads to higher earnings. We examine this relationship by reviewing the literature that investigates if the personality influencing aspects of alcohol consumption influences measures of human capital. We also survey the significant body of research that has examined how alcohol consumption has been found to influence educational outcomes and the work force participation of problem drinkers.     

MEASURING HUMAN CAPITAL AND ITS EFFECTS ON WAGE GROWTH

Abstract Ever since Mincer, years of labour market experience were used to approximate individual's general human capital, while years of seniority were used to approximate job‐specific human capital. This specification is restrictive because it assumes that starting wages at a new job depend only on job market experience. In this paper, I investigate the effects of human capital on wage growth by using a more flexible specification of the wage equation, which allows for a rich set of information on past employment spells to affect the starting wages. In addition, I endogenize the labour mobility decision. In order to illuminate the effects of human capital accumulation patterns on wage growth, I compare counterfactual career paths for representative individuals.     

UNEMPLOYMENT,HUMAN CAPITAL DEPRECIATION,AND UNEMPLOYMENT INSURANCE POLICY

This paper presents a structural estimation of a life cycle model with unemployment risk. The model allows for human capital depreciation during unemployment. It is estimated using German and US household‐level data. The data suggest that the adverse impact of unemployment on individual productivity is important in both countries, but quantitatively more relevant in Germany. Moreover, simulations show that the combination of skill depreciation with the generous unemployment insurance system that was in place in Germany until recently is a key factor in explaining the differences in labour market performance between these countries. Copyright © 2012 John Wiley & Sons, Ltd.     

打造湘潭现代人居地标

同在湘江边上的三座城市，长沙、株洲的中心在河东，湘潭的中心则在河西．在滚滚而来的融域浪潮中，长沙地产成为三市融域的风向标，株洲也在用绚丽为城市增加高度，而湘潭却在极力打造河东现代人居地标。“湘潭的地标在河东，河东的地标在东方名苑，”湘潭多凌华域置业有限公司总经理陈平踌躇满志地表示。[编者按]     

THE EFFECTS OF HUMAN CAPITAL INTERVENTIONS ON ENTREPRENEURIAL PERFORMANCE IN INDUSTRIALIZED COUNTRIES

This paper provides a systematic review of studies on the effects of human capital interventions on entrepreneurial performance in industrialized countries. We identify 21 experimental and quasi‐experimental studies published before September 2018. These studies examine the effects of business training, formal education, and entrepreneurship education. Their performance outcomes include firm profits, firm size, and entrepreneurial earnings. The main finding across these studies is that these interventions do not have statistically significant effects. Formal education is the only exception, showing positive effects on firm profits and entrepreneurial earnings, yet these effects are small in magnitude. Evidence is inconclusive regarding effect duration. These findings stand in stark contrast to correlational studies, which tend to find large positive correlations between human capital interventions and entrepreneurial performance. We therefore conclude that correlational studies tend to overestimate the benefits of human capital interventions. Moreover, our estimates show that the interventions are associated with moderately low additionality.     

汪洪历险“长征路”，资本市场淘真金

——首创集团总裁刘晓光曾说过:“企业家是内科医生,金融家是外科医生”。那么介于企业家和金融家之间的有一种为企业总体方向把脉的投资管理顾问就自然成了主刀医生。——在人们随改革之风考托福出国的时候,他却选择了服务于本土——创业,从大学教学经历走向创业道路,他起步了。——在别人的公司都采用以抢夺中心城市为业务发展核心的策略时,他选择了一个与众不同的从无竞争的偏远区域走向中心城市发展的新时代的“长征路线”,他进步了,而且赢得了公司转折期的第一桶真金。——他的公司在近十年的经营过程中,给员工提供了一个培养人才的最真实的领域,在企业资产重组、改制上市、收购兼并、资产管理顾问和企业投融资的方面专业精英群雄而出。公司的前任副总现在成了人寿保险公司的财务总监,前任总监助理现在成了第一创业证券的总裁。——他的公司是北京首都创业集团旗下的专业筹融资和投资管理顾问机构,并首批获得了中国证监会证券投资咨询资格。     

CHRISTIANITY, THE MARKET ECONOMY AND THE LIMITS TO HUMAN KNOWLEDGE

At one time, the prevailing view amongst Christian clergy in Britain would have been sympathetic towards the spontaneous order of the market economy and not sympathetic towards socialism. The spontaneous order, would, of course, have included the rich tapestry of philanthropic organisations and mutual societies that used to provide welfare for the poor. The clergy today are not generally sympathetic towards the market order. An understanding of Austrian ideas takes us to the view that, at the very least, socialist rationalism is the common enemy of Christians and those who support a free market order.     

HUMAN CAPITAL AND URBAN GROWTH IN ITALY, 1981–2001

Over the last decades of the XX century, human capital has emerged as a critical source of agglomeration economies fueling urban growth in advanced economies. Focusing on the Italian case, this paper assesses the contribution of human capital to urban growth, the latter gauged by employment growth between 1981 and 2001. A 10% higher share of college‐educated residents prompted a higher growth in employment in the 0.5–2.2% range. These results hold controlling for a wide set of urban characteristics and using an instrumental variable approach. By exploiting a spatial localization model, we disentangle the estimated effect into two components related to higher productivity and to higher life quality, respectively. We found that the former contributed to more than 60% of the effect at municipal level, and to over 90% at the wider local labor market level.