We examine the dynamic responses of income and poverty to increased investment in the human capital of new cohorts of workers, using a quantitative macroeconomic model with realistic demography. Higher investment leads to significant improvements, although phase-in takes considerable time. Gains are largest in poor countries. We argue in the context of our model that investing in people is more cost effective than investing in physical capital as a means to achieve specified income or poverty goals. We also study the effect of higher human capital on fertility and the follow-on effects of lower fertility on income.

中文翻译：

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模拟活动增加人力资本投资对经济增长和贫困的影响

我们使用具有现实人口统计学的定量宏观经济模型，考察了收入和贫困对增加的新劳动者人力资本投资的动态响应。尽管分阶段进行需要花费大量时间，但更高的投资可以带来显着的改进。贫穷国家的收益最大。我们在模型的背景下认为，投资于人比投资于有形资本更具成本效益，这是实现特定收入或贫困目标的一种手段。我们还研究了较高的人力资本对生育率的影响以及较低的生育率对收入的后续影响。