A national accounts satellite for human capital and education Report as inadecuate




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Abstract

The official national accounts statistics do not show the role of human capital in the nationaleconomy. A set of satellite tables supplementing the standard national accounts statisticscould serve this data need. In this satellite account, expenditure on education and training arerecorded as human capital formation. This includes not only the expenditure on primary,secondary and tertiary education, but also expenditure on training and courses by employersand the earnings foregone by students. Consumption of human capital is allocated to variouspersons and industries as a charge on their income; it is not part of final consumptionexpenditure. The satellite shows more comprehensively than OECD Education at a Glancewho pays for human capital formation. It also shows how education and training areemployed in the national economy. In line with calculations of private and social rates ofreturn, taxes and subsides on labour income and the relative prices of various types of labourhigh-skilled, medium-skilled, low-skilled are also shown. Links could be made with labouraccounts broken-down by level of education, productivity and growth accounts and tables onexpenditure by function of government, households and corporations. A simpledecomposition analysis can show the role of demography and participation rates in thedevelopment of public expenditure on education. The satellite could be regarded as a macroeconomicframework supplementing the OECD-statistic Education at a Glance.



Item Type: MPRA Paper -

Original Title: A national accounts satellite for human capital and education-

Language: English-

Keywords: Human capital; education; economic growth; public expenditure on education; national accounts satellite; statistics on education-

Subjects: I - Health, Education, and Welfare > I2 - Education and Research Institutions > I20 - GeneralC - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs > C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data AccessO - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O15 - Human Resources ; Human Development ; Income Distribution ; MigrationE - Macroeconomics and Monetary Economics > E0 - General > E01 - Measurement and Data on National Income and Product Accounts and Wealth ; Environmental AccountsH - Public Economics > H5 - National Government Expenditures and Related Policies > H52 - Government Expenditures and Education-





Author: Bos, Frits

Source: https://mpra.ub.uni-muenchen.de/33791/







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