Grossman, Gene M.; Helpman, Elhanan; Oberfield, Ezra; … - 2022
endogenous education. When more physical capital raises the marginal product of skills relative to that of raw labor, an increase … education is chosen optimally, a dynamic equilibrium is characterized by an inverse relationship between the level of human …. We develop a model with overlapping generations, ongoing increases in educational attainment, and technology …