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首页> 外文期刊>Review of Economic Dynamics >Human capital acquisition and occupational choice: Implications for economic development
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Human capital acquisition and occupational choice: Implications for economic development

机译：人力资本收购与职业选择：对经济发展的影响

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摘要

Using household-level data from Mexico we document patterns among schooling, entrepreneurial decisions and household characteristics such as assets, talent of household members and age of the household head. Motivated by our findings, we develop a heterogeneous-agent, incomplete-markets, overlapping-generations dynasty model. Households jointly decide over their life cycle on (i) kids' human capital investments (schooling) and (ii) parents' entry, exit and investment into alternative entrepreneurial modes (subsistence and modern). With financial constraints all of these are co-determined. A calibrated version of our model can account for the broad correlation patterns uncovered in the data within and across generations, e.g., a non-monotonic relationship between educational choices and assets across occupations, growth in profits and employment for modern firms only, and dynastic persistence across generations in education and wealth. Endogenous human capital acquisition is a key driver of inequality and intergenerational persistence. Eliminating this channel would decrease the top 10% income share by 47%. Eliminating within-period borrowing constraints would increase average household expenditure by 7.1% and benefit the middle class, reducing top and bottom expenditure shares. It would also reduce by 28% the correlation between household assets and kids' schooling levels.
机译：使用来自墨西哥的家庭级别数据我们在资产，家庭成员和家庭人才和年龄等资产中的学校教育，创业决策和家庭特征中的文档模式。我们的研究结果激励，我们开发了异质代理，不完整的市场，重叠几代王朝模型。家庭共同决定（i）人的人力资本投资（教育）和（ii）父母的入境，退出和投资进入替代创业模式（生存和现代）。通过财务限制，所有这些都共同确定。我们模型的校准版本可以考虑到在几代内部和跨越各地的数据中未覆盖的广泛关联模式，例如，在职业的教育选择和资产之间的非单调关系，仅限现代公司的利润增长和就业，以及Dynastic持久性跨越教育和财富。内生人力资本收购是不平等和代际持久性的关键驱动因素。消除此渠道将降低10％的收入份额47％。消除期间内的借款限制将增加平均家庭支出7.1％并使中产阶级有益，减少顶级和底部支出股份。家庭资产与儿童教育水平之间的相关性也将减少28％。

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