Empirical research has shown the procyclical behavior in the child labor and income shocks. We want to model the idea that there exists a trade-off between the current level of consumption and the future levels of human capital. As shocks in the international prices of commodities affect current income and modify the optimal consumption basket, households adjust their preferences between schooling time and working time for the younger (school-aged) household members. Therefore, the dynamics of human capital accumulation can be affected and, with it, the prospects for economic growth and the sectoral composition of the economy, when commodity production and trade play a significant role in the economy.
Project leader: Iader Giraldo
Scientific mentors: Martín Cicowiez
No journal publications.
|Commodity Booms, Human Capital, and Economic Growth: An Application to Colombia||2019-06-14||1.15MB||0||0|
|How education incentives during a commodities boom can help economic growth in Colombia||2019-07-19||801.21kB||0||0|
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