Output per Worker across Countries
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Why Do Some Countries Produce So Much More Output per Worker than Others?
Output per worker varies enormously across countries. Why? On an accounting basis, our analysis shows that differences in physical capital and educational attainment can only partially explain the variation in output per worker — we find a large amount of variation in the level of the Solow residual across countries. At a deeper level, we document that the differences in capital accumulation, p...
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We reevaluate the role of human capital in determining the wealth of nations. We use standard human capital theory to estimate stocks of human capital and allow the quality of human capital to vary across countries. Our model can explain differences in schooling and earnings profiles and, consequently, estimates of Mincerian rates of return across countries. We find that effective human capital...
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This paper introduces a new way to measure divergence of output across countries. It measures how productivity, technology or output per worker in each country follow the global frontier. We find that during the years 1970-2008 most countries followed the global frontier only partially, so they diverged from it. We use the tools of ‘development accounting’ to measure by how much countries follo...
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We develop a quantitative theory of human capital investment in order to evaluate the magnitude of cross-country differences in total factor productivity (TFP) that explains the variation in per-capita incomes across countries. We build a heterogeneousagent economy with cross-sectional variation in ability, schooling, and expenditures on schooling quality. In our theory, the parameters governin...
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Three central observations motivate this paper. First, there is little variation in the fraction of unskilled workers between rich and middle income countries. This occurs despite well-known, large differences in output per worker. Among a set of rich countries, unskilled workers 25 and older, defined as those with at most high school education, averaged 82 percent. Meanwhile, for a set of midd...
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