Galama, Titus; van Kippersluis, Hans - Becker Friedman Institute for Research in Economics, … - 2015
This paper presents a unified theory of human capital with both health capital and, what we term, skill capital … endogenously determined within the model. By considering joint investment in health capital and in skill capital, the model … strongly multiplicative in skill and health, so that investment in skill capital raises the return to investment in health …