{"id":124706,"date":"2024-01-23T09:16:21","date_gmt":"2024-01-23T08:16:21","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/124706\/"},"modified":"2024-11-14T12:56:21","modified_gmt":"2024-11-14T11:56:21","slug":"austria-2025-the-effect-of-human-capital-accumulation-on-output-growth","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/124706\/","title":{"rendered":"Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-124706","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The study measures the contribution of human capital to output growth in Austria. Human capital is usually referred to as the stock of knowledge and abilities of the labour force which raises productivity and can be attained by education or other processes. Following Katz \u2013 Murphy (1992), we construct a measure for the Austrian human capital stock. Using data on remuneration according to educational attainment, raw labour input is rebased into efficiency units. Applying a standard growth accounting approach we show the importance of human capital and education for the Austrian GDP growth. We are able to explain a part of the past output growth, which is otherwise subsumed in residual total factor productivity growth.","onlinedate":"2016-12-01 12:00:00","lang":"English","publication_series":"Projektpublikationen \"\u00d6sterreich 2025\"","publication_date":"20161101","publication_date_year":"","publication_date_full":false,"publication_num_pages":"43","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":414274,"zip":null,"link":"","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"","journal":"","publisher":"","invisible":false,"external":false,"embargo_date":"2016-12-01 12:00:00","types":[81966],"research_groups":[3500,3510],"collaboration":"","persons":[3872,3543,3641,3899],"persons_data":"[{\"personId\":3872,\"personName\":\"Sandra Bilek-Steindl\",\"organisationNames\":[]},{\"personId\":3543,\"personName\":\"Christian Glocker\",\"organisationNames\":[]},{\"personId\":3641,\"personName\":\"Serguei Kaniovski\",\"organisationNames\":[]},{\"personId\":3899,\"personName\":\"Thomas Url\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_bookanthology rendering_apa rendering_bookanthology_apa\\\"><span>Bilek-Steindl, S.<\\\/span><span>, Glocker, C.<\\\/span><span>, Kaniovski, S.<\\\/span><span>, &amp; Url, T.<\\\/span> (2016). <span><em>Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth<\\\/em><\\\/span>. (Projektpublikationen \\\"\u00d6sterreich 2025\\\"). WIFO. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/59175\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/59175<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_bookanthology rendering_vancouver rendering_bookanthology_vancouver\\\"><span>Bilek-Steindl S<\\\/span><span>, Glocker C<\\\/span><span>, Kaniovski S<\\\/span><span>, Url T<\\\/span>. <span class=\\\"title\\\"><span>Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth<\\\/span><\\\/span>. WIFO; 2016.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_bookanthology rendering_bibtex rendering_bookanthology_bibtex\\\"><div>@book{97d8b748455a46328151033d8ad6b1eb,<\\\/div><div>  title     = \\\"Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth\\\",<\\\/div><div>  abstract  = \\\"The study measures the contribution of human capital to output growth in Austria. Human capital is usually referred to as the stock of knowledge and abilities of the labour force which raises productivity and can be attained by education or other processes. Following Katz \u2013 Murphy (1992), we construct a measure for the Austrian human capital stock. Using data on remuneration according to educational attainment, raw labour input is rebased into efficiency units. Applying a standard growth accounting approach we show the importance of human capital and education for the Austrian GDP growth. We are able to explain a part of the past output growth, which is otherwise subsumed in residual total factor productivity growth.\\\",<\\\/div><div>  author    = \\\"Sandra Bilek-Steindl and Christian Glocker and Serguei Kaniovski and Thomas Url\\\",<\\\/div><div>  note      = \\\"Austria 2025: Potential Output\\\",<\\\/div><div>  year      = \\\"2016\\\",<\\\/div><div>  month     = nov,<\\\/div><div>  language  = \\\"English\\\",<\\\/div><div>  series    = \\\"Projektpublikationen {\\\"}{\\\\\\\"O}sterreich 2025{\\\"}\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_bookanthology rendering_ris rendering_bookanthology_ris\\\"><p>TY  - BOOK<\\\/p><p>T1  - Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth<\\\/p><p>AU  - Bilek-Steindl, Sandra<\\\/p><p>AU  - Glocker, Christian<\\\/p><p>AU  - Kaniovski, Serguei<\\\/p><p>AU  - Url, Thomas<\\\/p><p>N1  - Austria 2025: Potential Output<\\\/p><p>PY  - 2016\\\/11<\\\/p><p>Y1  - 2016\\\/11<\\\/p><p>N2  - The study measures the contribution of human capital to output growth in Austria. Human capital is usually referred to as the stock of knowledge and abilities of the labour force which raises productivity and can be attained by education or other processes. Following Katz \u2013 Murphy (1992), we construct a measure for the Austrian human capital stock. Using data on remuneration according to educational attainment, raw labour input is rebased into efficiency units. Applying a standard growth accounting approach we show the importance of human capital and education for the Austrian GDP growth. We are able to explain a part of the past output growth, which is otherwise subsumed in residual total factor productivity growth.<\\\/p><p>AB  - The study measures the contribution of human capital to output growth in Austria. Human capital is usually referred to as the stock of knowledge and abilities of the labour force which raises productivity and can be attained by education or other processes. Following Katz \u2013 Murphy (1992), we construct a measure for the Austrian human capital stock. Using data on remuneration according to educational attainment, raw labour input is rebased into efficiency units. Applying a standard growth accounting approach we show the importance of human capital and education for the Austrian GDP growth. We are able to explain a part of the past output growth, which is otherwise subsumed in residual total factor productivity growth.<\\\/p><p>M3  - Study<\\\/p><p>T3  - Projektpublikationen \\\"\u00d6sterreich 2025\\\"<\\\/p><p>BT  - Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/124706\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/124706\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-14T11:56:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/124706\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/124706\\\/\",\"name\":\"Austria 2025 \u2013 The Effect of Human Capital Accumulation on Output Growth - 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