Rediscovering Education in Growth Regressions
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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This paper studies the puzzling lack of correlation between income and schooling in macro regressions. It is argued that the root of the puzzle is threefold. First, there is a problem of a proper definition of the way in which years of schooling should enter into a production function. Second, collinearity between physical and human capital stocks...
