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Human Capital Formation and Saving-Investment Dynamics
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- Authors
- Issue Date
- 1998-01
- Citation
- Seoul Journal of Economics, Vol.11 No.1, pp. 15-42
- Keywords
- two-countru virsion ; post war G7 data ; Baxter
- Abstract
- This paper explores the dynamics of saving, investment and the trade balance in a two-country version of human capital growth model. As observed in the post-war G7 data, the model economy generates a high saving-investment correlation, together with a countercyclical trade balance. The persistent movement of investment, sustained by the accumulation of human capital, turns out to play a key role in producing the realistic cyclical properties of the model economy.
- ISSN
- 1225-0279
- Language
- English
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