Abstract

http://ssrn.com/abstract=256907
 
 

Citations (169)



 


 



Human Capital, Fertility, and Economic Growth


Gary S. Becker


University of Chicago - Department of Economics; University of Chicago - Booth School of Business

Kevin M. Murphy


University of Chicago; National Bureau of Economic Research (NBER)

Robert Tamura


Clemson University - John E. Walker Department of Economics; Federal Reserve Bank of Atlanta

August 1990

NBER Working Paper No. w3414

Abstract:     
Our model of growth departs from both the Malthusian and neoclassical approaches by including investments in human capital. We assume, crucially, that rates of return on human capital investments rise, rather than, decline, as the stock of human capital increases, until the stock becomes large. This arises because the education sector uses human capital note intensively than either the capital producing sector of the goods producing sector. This produces multiple steady scares: an undeveloped steady stare with little human capital, low rates of return on human capital investments and high fertility, and a developed steady stats with higher rates of return a large, and, perhaps, growing stock of human capital and low fertility. Multiple steady states mean that history and luck are critical determinants of a country's growth experience.

Number of Pages in PDF File: 44

working papers series


Download This Paper

Date posted: May 26, 2004  

Suggested Citation

Becker, Gary S. and Murphy, Kevin M. and Tamura, Robert, Human Capital, Fertility, and Economic Growth (August 1990). NBER Working Paper No. w3414. Available at SSRN: http://ssrn.com/abstract=256907

Contact Information

Gary S. Becker (Contact Author)
University of Chicago - Department of Economics ( email )
1126 East 59th Street
Chicago, IL 60637
United States
University of Chicago - Booth School of Business
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
Kevin M. Murphy
University of Chicago ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
773-702-7280 (Phone)
773-702-2699 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Robert Tamura
Clemson University - John E. Walker Department of Economics ( email )
Clemson, SC 29634
United States
864-656-1242 (Phone)
864-656-4192 (Fax)
Federal Reserve Bank of Atlanta
1000 Peachtree Street N.E.
Atlanta, GA 30309-4470
United States
Feedback to SSRN


Paper statistics
Abstract Views: 1,953
Downloads: 110
Download Rank: 141,370
Citations:  169

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo2 in 0.422 seconds