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Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this …
Persistent link: https://www.econbiz.de/10005407739
I show that in a conventional Ramsey model, between one-fourth and one- half of income differences across countries can be explained by a single factor: The steady-state effect of large, persistent differences in national average IQ on worker productivity. These differences in cognitive...
Persistent link: https://www.econbiz.de/10005118848