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Replication data for: Constrained Efficiency in a Human Capital Model

Version
V0
Resource Type
Dataset
Creator
  • Park, Yena
Publication Date
2017-12-30
Description
  • Abstract

    This paper investigates whether capital and human capital are over-accumulated in an incomplete market economy. As in Davila et al. (2012), whether capital is over-accumulated depends on how the pecuniary externalities affect insurance and redistribution. In a human capital economy, however, not only capital but also human capital generates externalities and an additional channel arises that has implications for the overaccumulation (under-accumulation) of capital (human capital). The income sources of the poor and the correlation between wealth and human capital are crucial for the implication of pecuniary externalities. Realistically calibrated models exhibit under-accumulation (overaccumulation) of capital (human capital).
Availability
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Relations
  • Is supplemented by
    DOI: 10.1257/mac.20160405 (Text)
Publications
  • Park, Yena. “Constrained Efficiency in a Human Capital Model.” American Economic Journal: Macroeconomics 10, no. 3 (July 2018): 179–214. https://doi.org/10.1257/mac.20160405.
    • ID: 10.1257/mac.20160405 (DOI)

Update Metadata: 2019-10-13 | Issue Number: 1 | Registration Date: 2019-10-13

Park, Yena (2017): Replication data for: Constrained Efficiency in a Human Capital Model. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. http://doi.org/10.3886/E114152