A stylized satellite account for human capital

Arbeitspapier

This paper presents a satellite account in which investment in human capital is considered as a produced product/asset. It is not the education sector but the individual person taking education or training/courses that is the genuine producer of human capital. The former only provides education services that are used as one of the production inputs for the latter. Since another fundamental input is own labor services, human capital produced and embodied in the individual is regarded as being owned by the person in concern. It is demonstrated that the gross operating surplus generated from the production of human capital equals the differences between the estimates by the cost-based and the income-based approaches, which constitutes the first step towards making reconciliation between the estimates within one and the same framework. Finally, a numerical example based on supply and use tables shows the feasibility of implementing such a satellite account in practice.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Discussion Papers ; No. 816

Classification and Topics

• Classification: Wirtschaft ; Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access ; Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts ; National Government Expenditures and Education ; Education and Research Institutions: General ; Human Capital; Skills; Occupational Choice; Labor Productivity
• Subject: human capital ; satellite account ; output of education sector ; supply and use tables

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Liu, Gang
• Event: Veröffentlichung
• (who): Statistics Norway, Research Department
• (where): Oslo
• (when): 2015

Further information

• Handle: http://hdl.handle.net/10419/192798
• Last update: 10.03.2025, 11:44 AM CET