ERIC Number: ED229295
Record Type: RIE
Publication Date: 1982-Aug
Reference Count: 0
Measuring the Impact of Education on Productivity. Working Paper #261.
Plant, Mark; Welch, Finis
A theoretical and conceptual analysis of techniques used to measure education's contribution to productivity is followed by a discussion of the empirical measures implemented by various researchers. Standard methods of growth accounting make sense for simple measurement of factor contributions where outputs are well measured and when factor growth is exogenous. For education and other forms of producer capital, which are legitimately viewed as intermediate products, the standard techniques seem less desirable. An alternative growth accounting technique, derived using tools similar to those used to analyze consumer's surplus is proposed. A direct analogy with the consumer's case is given. (Author/RM)
Publication Type: Information Analyses; Speeches/Meeting Papers
Education Level: N/A
Authoring Institution: California Univ., Los Angeles. Dept. of Economics.
Note: Paper presented at the Annual Meeting of the American Economic Association (New York, NY, December 27-30, 1982).