{"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":"","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 v26.5 (Yoast SEO v26.5) - 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