SHERP

Human Capital Formation and Saving-Investment Dynamics

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Authors
Nam, Kwanghee
Issue Date
1998
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 11 (No. 1 1998): 15-42
Keywords
two-countru virsionpost war G7 dataBaxter
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
URI
http://hdl.handle.net/10371/1125
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.11(1) (Spring 1998)
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