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Human Capital Quality and Aggregate Income Differences: Development Accounting for U.S. States

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  • Eric A. Hanushek
  • Jens Ruhose
  • Ludger Woessmann
Abstract
Although many U.S. state policies presume that human capital is important for state economic development, there is little research linking better education to state incomes. In a complement to international studies of income differences, we investigate the extent to which quality-adjusted measures of human capital can explain within-country income differences. We develop detailed measures of state human capital based on school attainment from census micro data and on cognitive skills from state- and country-of-origin achievement tests. Partitioning current state workforces into state locals, interstate migrants, and immigrants, we adjust achievement scores for selective migration. We use the new human capital measures in development accounting analyses calibrated with standard production parameters. We find that differences in human capital account for 20-35 percent of the current variation in per-capita GDP among states, with roughly even contributions by school attainment and cognitive skills. Similar results emerge from growth accounting analyses.

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  • Eric A. Hanushek & Jens Ruhose & Ludger Woessmann, 2015. "Human Capital Quality and Aggregate Income Differences: Development Accounting for U.S. States," Economics Working Papers 15112, Hoover Institution, Stanford University.
    • Handle: RePEc:hoo:wpaper:15112
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    1. Human Capital Quality and Aggregate Income Differences: Development Accounting for U.S. States by Eric A. Hanushek (hanushek@stanford.edu), Jens Ruhose (ruhose@ifo.de) and Ludger Woessmann (woessmann@ifo.de)
      by maximorossi in NEP-LTV blog on 2015-07-07 05:06:24
    2. Human Capital Quality and Aggregate Income Differences: Development Accounting for U.S. States
      by maximorossi in NEP-LTV blog on 2016-03-01 18:12:27

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    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J47 - Labor and Demographic Economics - - Particular Labor Markets - - - Coercive Labor Markets

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