Institutional Affiliation: Statistics Norway
|A Brief Introduction to Human Capital Measures|
with : w27561
There are six major measures of human capital, each of which covers at least 130 countries, all of which are described in this paper. These measures are of two distinct types: monetary and index-based. The two monetary versions are those by the World Bank (Lange et al., 2018) and by the United Nations Environmental Program and the Urban Institute of Kyushu University (Managi and Kumar et al., 2018). The four indicator versions are by the Institute of Health Metrics and Evaluation of the University of Washington (Lim et al., 2018), the United Nations Development Programme (UNDP, 2019), the World Bank (International Bank for Reconstruction and Development and the World Bank, 2018), and the World Economic Forum (World Economic Forum, 2017). In addition to describing each of these six measu...
|Measuring the Stock of Human Capital for International and Intertemporal Comparisons|
in Measuring Economic Sustainability and Progress, Dale W. Jorgenson, J. Steven Landefeld, and Paul Schreyer, editors
This paper summarizes the outcomes of the OECD human capital project. In so doing, it discusses the feasibility of applying the lifetime income approach to measuring human capital for comparative analysis, both across countries and over time. It also examines the feasibility of applying the methodology to the categorical data (i.e. by 5-year or 10-year age group) that are available within the OECD statistics system, rather than to data by single year of age required by the original Jorgenson-Fraumeni methodology. The results in this paper indicate that the estimated value of human capital is substantially larger than that of conventional produced capital. Ratios of human capital to GDP are in a range from around eight to over ten across countries, in line with those reported in a number of...