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Bloom, David E.; Canning, David; Sevilla, Jaypee
World development, 2004, 2004-1-00, 20040101, Letnik: 32, Številka: 1Journal Article
We estimate a production function model of aggregate economic growth including two variables that microeconomists have identified as fundamental components of human capital: work experience and health. Our main result is that good health has a positive, sizable, and statistically significant effect on aggregate output even when we control for experience of the workforce. We argue that the life expectancy effect in growth regressions appears to be a real labor productivity effect, and is not the result of life expectancy acting as a proxy for worker experience.
