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https://hdl.handle.net/2142/85505
Description
Title
Essays on Economic *Growth
Author(s)
Psarianos, Iacovos
Issue Date
2001
Doctoral Committee Chair(s)
Villamil, Anne P.
Department of Study
Economics
Discipline
Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, Theory
Language
eng
Abstract
The second chapter takes explicitly into account the link between human capital accumulation and technological progress. Human capital accumulation in the spirit of Lucas (1988) is introduced into the R&D-based model of Romer (1990). The steady-state solution for the decentralized economy follows a growth-accounting exercise which provides quantitative information regarding the sources of growth. The model is calibrated to data and parameter estimates from various studies. It turns out that human capital accumulation explains a significant part of the growth influence of the Solow residual. The chapter concludes with an analysis of the long-run effects of changes in selected model parameters.
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