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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 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.

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.

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 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.

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.

Human capital—that is, resources associated with the knowledge and skills of individuals—is a critical component of economic development 1 , 2 . Learning metrics that are comparable for countries globally are necessary to understand and track the formation of human capital. The increasing use of international achievement tests is an important step in this direction 3 . However, such tests are administered primarily in developed countries 4 , limiting our ability to analyse learning patterns in developing countries that may have the most to gain from the formation of human capital. Here we bridge this gap by constructing a globally comparable database of 164 countries from 2000 to 2017. The data represent 98% of the global population and developing economies comprise two-thirds of the included countries. Using this dataset, we show that global progress in learning—a priority Sustainable Development Goal—has been limited, despite increasing enrolment in primary and secondary education. Using an accounting exercise that includes a direct measure of schooling quality, we estimate that the role of human capital in explaining income differences across countries ranges from a fifth to half; this result has an intermediate position in the wide range of estimates provided in earlier papers in the literature 5 – 13 . Moreover, we show that average estimates mask considerable heterogeneity associated with income grouping across countries and regions. This heterogeneity highlights the importance of including countries at various stages of economic development when analysing the role of human capital in economic development. Finally, we show that our database provides a measure of human capital that is more closely associated with economic growth than current measures that are included in the Penn world tables version 9.0 14 and the human development index of the United Nations 15 . Analyses of a global database reveal that in many developing countries progress in learning remains limited despite increasing enrolment in primary and secondary education, and uncover links between human capital and economic development.

Does a person become more or less creative when exploring a new field? Exploring new fields exposes a person to new knowledge that might increase the novelty of inventive output; at the same time, exploration means a lack of prior expertise and a learning challenge that might harm the value of that output. Using new combinations as a measure of novelty and citations as a measure of value, we demonstrate correlations between exploring new fields and increased novelty—but decreased value—in an inventor–firm fixed effects panel. The negative effect of exploring new fields on value is muted when the novice collaborates with experts or uses the scientific literature in the new field. We find consistent results using an unintended change in noncompete labor law as an exogenous influence on exploring new fields. The research illustrates two opposite influences of exploration on creative output and suggests how inventors can reduce the downside of entering a new field. The online appendix is available at https://doi.org/10.1287/orsc.2018.1216 .