A SURVEY STUDY OF HUMAN CAPITAL AND EDUCATIONAL ATTAINMENT
Downloads
The development of human capital is the essential thing to determine a country's growth. The existence of a country's human capital quality depends on its education. The change of information in society is going rapidly and it is important to cope up with information and knowledge to all economic process. With the role of human capital in the modern societies many people are still unaware about the process of educational production. This paper is aimed to provide the process on human capital formation and educational attainment from microeconomic perspective. The literature reviews indicate that education attainment in the society are influence by many factors namely religion, family background, teacher's quality and incentive, and the peer effects. In the empirical studies, Mincerian wage equation is the most widely used to analyze education and earnings. Besides from educational production function, to determine the quality of human capital, fiscal policy through taxation and educational subsidies have impact to the end result of students.
Aaronson, D. 1998. "Using Sibling Data To Estimate The Impact Of
Neighborhoods on Children's Educational Outcomes." Journal of
Human Resources, 915–946.
Acemoglu, D., & Pischke, J.-S. 1998. "Why Do Firms Train? Theory and
Evidence." The Quarterly journal of economics, 113(1), 79–119.
Acemoglu, D., & Shimer, R. 1999. "Holdups and Efficiency with Search
Frictions." International Economic Review, 40(4), 827–849.
Backes"Gellner, U., Wolter, S. C., & Tuor, S. N. 2010. "Risk"Return Trade"
Offs to Different Educational Paths: Vocational, Academic and Mixed."
International journal of Manpower.
Becker, G. S. 1962. "Investment in Human Capital: A Theoretical Analysis."
Journal of political economy, 70(5, Part 2), 9–49.
Bedard, K., & Ferrall, C. 2003. "Wage and Test Score Dispersion: Some
International Evidence." Economics of education review, 22(1), 31–43.
Benabou, R. 2002. "Tax and Education Policy in A Heterogeneous"
Agent Economy: What Levels of Redistribution Maximize Growth and
Efficiency?." Econometrica, 70(2), 481–517.
Bhuller, M., Mogstad, M., & Salvanes, K. G. 2017. "Life-Cycle Earnings,
Education Premiums, and Internal Rates of Return." Journal of Labor
Economics, 35(4), 993–1030.
Black, S. E., & Lynch, L. M. 1996. "Human-Capital Investments and
Productivity." The American economic review, 86(2), 263–267.
Blank, J. L. 2009. "Non-Maximizing Output Behavior for Firms with A CostConstrained Technology." Journal of productivity analysis, 31(1), 27–32.
Borjas, G. J. 1994. Ethnicity, neighborhoods, and human capital
externalities. National Bureau of Economic Research.
Bovenberg, A. L., & Jacobs, B. 2005. "Redistribution and Education
Subsidies are Siamese Twins." Journal of Public Economics, 89(11–12).
Caucutt, E. M. 2001. "Peer Group Effects in Applied General
Equilibrium." Economic Theory, 17(1), 25–51.
_______. 2002. "Educational Vouchers when There are Peer Group
Effects”Size Matters." International Economic Review, 43(1), 195–222.
Davies, J. B., & Collins, K. A. 2003. Measuring effective tax rates on
human capital: Methodology and an application to Canada.
Dur, R., & Teulings, C. N. 2004. "Are Education Subsidies An Efficient
Redistributive Device?." Labor Market Institutions and Public
Regulation, J. Agell, M. Keen, and AJ Weichenrieder, eds., Cambridge,
MA, 123–161.
Epple, D., & Romano, R. E. 1998. "Competition between Private and
Public Schools, Vouchers, and Peer-Group Effects." American
Economic Review, 33–62.
Evans, W. N., Oates, W. E., & Schwab, R. M. 1992. "Measuring Peer
Group Effects: A Study of Teenage Behavior." Journal of Political
Economy, 100(5), 966–991.
Fleischhauer, K.-J. 2007. "A Review of Human Capital Theory:
Microeconomics. University of St. Gallen, Department of Economics
Discussion Paper, 2007–01.
Groot, W., & Oosterbeek, H. 1994. "Earnings Effects of Different
Components of Schooling; Human Capital Versus Screening." The
review of Economics and Statistics, 317–321.
Authors who publish with Airlangga International Journal of Islamic Economics and Finance agree to the following terms:
- Authors retain copyright and grant AIJIEF the right of first publication with the work simultaneously licensed under a Creative Commons Attribution 4.0 International License that allows others to remix, adapt and build upon the work with an acknowledgment of the work's authorship and of the initial publication in AIJIEF.
- Authors are permitted to copy and redistribute the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in AIJIEF.