| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2012: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2011: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2010: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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| Research Abstract |
As an engine of economic growth as well as in the distribution of income that is the fruits of economic growth, the role of human capital accumulation has been increasing. Hence, constructing a growth model with human and physical capital accumulation, we have provided a policy rule that ensures the optimal resource allocation between human and physical capital. Also, we have pointed out that a skill-premium puzzle, which is characterized by an increase in income inequality withincreased skill-labor supply, takes place when the cost of human capital investment (or skill-acquisition cost) changes with technical progress. In addition, it is shown that an increase in uncertainty on human capital investment costs tends to fix inequality over generations.
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