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The COVID-19 pandemic has dealt a severe blow to human capital. This report presents new evidence and analysis to provide a comprehensive diagnostic of the effects of the pandemic on human capital outcomes and identify promising policy responses for governments faced with the task of rebuilding human capital in the wake of the pandemic. The report identifies the mechanisms through which COVID-19 affected the human capital of people at different points in the life cycle and provides estimates of the magnitude of these losses. This analysis underlines differences in impact across countries and groups within countries to understand how the reported blow on human capital has been unequal, exacerbating existing gaps and creating new ones. Grounded in the diagnostic, the report discusses policy responses that attend to afflicted groups in the short-term as well as the medium- to long-term agenda to build back better human capital and make systems more resilient. The long-term policy discussion recognizes COVID-19 as an inflection point, using the opportunity to reimagine systems and institutions, thinking in a completely different way about some key issues. In conclusion, the report reflects on what we have learned from failed policy responses as well as the innovations that proved successful across sectors in preventing or mitigating human capital losses associated with the COVID-19 crisis, and how these lessons can be incorporated across sectors going forward\"--

The objective of this study is to examine the interrelation between competitive human capital (CHC) and a professional football club’s (PFC) sports performance (SP) and business performance (BP). The research methodology is based on a seemingly unrelated regressions (SUR) model with panel data. Empirical results are tested on data of the 41 PFCs in the English Premier League (EPL) for the period of 2008–2023. We find that CHC has a positive impact on SP and on the intensity of stream of broadcasting revenue (BR) as the main driver of PFC revenue, but it has a negative impact on BP. Additionally, the results indicate that the media interest in PFC has a limited financial impact, and the financial aspects of a transfer policy are secondary to the club’s ability to generate revenue, while CHC expenses reduce PFCs’ business efficiency, profitability, and liquidity. PFCs should focus on balancing between SP and BP by optimizing transfer and wage expenditures. Furthermore, given UEFA’s requirements for settling overdue payables, clubs should take measures to increase liquidity. This paper contributes to the field by applying a SUR model in the context of SP and BP of PFC as a for-profit entity (with an emphasis on the influence of CHC on the intensity of stream of BR), which is a relatively novel research avenue. It can act as a foundation for studying the impact of CHC parameters on PFCs’ sports, business, and financial performance as a virtuous cycle of performance.

General purpose technologies (GPTs) like AI enable and require significant complementary investments. These investments are often intangible and poorly measured in national accounts. We develop a model that shows how this can lead to underestimation of productivity growth in a new GPTs early years and, later, when the benefits of intangible investments are harvested, productivity growth overestimation. We call this phenomenon the Productivity J-curve. We apply our method to US data and find that adjusting for intangibles related to computer hardware and software yields a TFP level that is 15.9 percent higher than official measures by the end of 2017.

The purpose of the paper is to examine the human capital and human capability models in order to show the connection between graduation and employment. There appear to be topical issues in Zimbabwean electronic and print media regarding the complaint of the mismatch between the students’ training and the product of graduates, which may lead to the failure to meet the industry’s needs. The mismatch between the university curriculum and national developmental needs results in the production of graduates who have to be trained in order to be employable in industry, and this little linkage led me to write this paper. A qualitative interpretive study of the examination of the gap between graduation and employability was used after identifying a small-scale case study with twenty (20) managers and university students that were purposefully sampled and then interviewed. The results of the interviews were presented in tables and graphs, then analyzed and interpreted. The findings of the results revealed that Zimbabwean businesses are suffering from the influx of recent graduates who lack the market-required scientific, technological, social, problem-solving, and creative abilities. The involvement of different stakeholders in higher education institutions, including the government, universities, and industries, should lead to the production of education and economic policy’s new language, posture, position, and direction that Zimbabwe could take to stabilize the economy. A new stable season where values are corrected and projected towards economic recovery, industrialization of the economy, and the creation of employment can be realized.

How important is human capital at the top of the U.S. income distribution? A primary source of top income is private “pass-through” business profit, which can include entrepreneurial labor income for tax reasons. This article asks whether top pass-through profit mostly reflects human capital, defined as all inalienable factors embodied in business owners, rather than financial capital. Tax data linking 11 million firms to their owners show that top pass-through profit accrues to working-age owners of closely held mid-market firms in skill-intensive industries. Pass-through profit falls by three-quarters after owner retirement or premature death. Classifying three-quarters of pass-through profit as human capital income, we find that the typical top earner derives most of her income from human capital, not financial capital. Growth in pass-through profit is explained by both rising productivity and a rising share of value added accruing to owners.

The nexus between economic growth (EG) and carbon emission has been examined extensively, specifically in consumption-based CO 2 . However, the role of human capital, green energy, and sustainable economic growth in determining the carbon emission is yet to be explored specifically from emerging economies. This study aimed to examine the impact of human capital index, green energy, EG in terms of GDP, and square of GDP on carbon emission for long-short run with the help of CS-ARDL. The data for study variables was collected from 1995 to 2018. The study findings confirmed that there exists CSD, cointegration, and slope heterogeneity among the study variables. In contrast, the output through CS-ARDL indicated that the main reason for higher carbon emission in the targeted economies are economic growth under long-short run estimation. Additionally, the role of green energy and human capital index is also constructive in lowering the environmental degradation for both long-run and short-run estimation. Finally, some policy implications are also convassed at the end of the research.

We show that technology spillovers shift the composition of corporate research and development by promoting innovation based on the exploitation of existing knowledge while disincentivizing innovation that explores new areas and breaks new ground. Accordingly, firms facing large technology spillovers attain fewer superstar inventors among their human capital, who are important drivers of breakthrough technology advancement. These findings complement the existing studies documenting the positive effect of technology spillovers in increasing firms’ overall innovation outputs; they highlight potential downsides of technology spillovers in reducing firm investment in technology breakthrough and valuable human capital. This paper was accepted by Gustavo Manso, finance.

This paper synthesizes what economists have learned about human capital since Becker (1962) into four stylized facts. First, human capital explains at least one-third of the variation in labor earnings within countries and at least half of the variation across countries. Second, human capital investments have high economic returns throughout childhood and young adulthood. Third, we know how to build foundational skills such as literacy and numeracy, and resources are often the main constraint. Fourth, higher-order skills such as problem-solving and teamwork are increasingly valuable, and the technology for producing these skills is not well understood. We know that investment in education works and that skills matter for earnings, but we do not always know why.

We show that firms with chief executive officers (CEOs) who gain general managerial skills over their lifetime of work experience produce more patents. We address the potential endogenous CEO–firm matching bias using firm–CEO fixed effects and variation in the enforceability of noncompete agreements across states and over time during the CEO’s career. Our findings suggest that generalist CEOs spur innovation because they acquire knowledge beyond the firm’s current technological domain, and they have skills that can be applied elsewhere should innovation projects fail. We conclude that an efficient labor market for executives can promote innovation by providing a mechanism of tolerance for failure. The Internet appendix is available at https://doi.org/10.1287/mnsc.2017.2828 . This paper was accepted by Gustavo Manso, finance.