A human capital explanation of real business cycles

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F24%3A00604646" target="_blank" >RIV/67985998:_____/24:00604646 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11640/24:00586671 RIV/25840886:_____/24:N0000023
Result on the web
<a href="https://doi.org/10.1086/728088" target="_blank" >https://doi.org/10.1086/728088</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1086/728088" target="_blank" >10.1086/728088</a>

Result language
angličtina
Original language name
A human capital explanation of real business cycles
Original language description
We contribute an alternative explanation of business cycles by using human capital investment as a second sector tied down with accounting methods. Inputs of education expenditure and tertiary student time in this sector enable explanation of a broad set of business-cycle moments. Labor time share, labor productivity, and consumption correlations with output are well explained, a challenge difficult to meet in the one-sector models. Human capital deepening in the human capital investment sector occurs during contractions, while physical capital deepening in the goods sectors occurs during expansions. The external margin from human capital investment clarifies conflicting estimates of the labor elasticity.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
—
OECD FORD branch
50202 - Applied Economics, Econometrics

Project
<a href="/en/project/GA22-35423S" target="_blank" >GA22-35423S: Efficient Government Policies during Pandemics</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2024
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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