This paper synthesizes the economics literature on skills and human capital ... We highlight two key limitations of human capital theory as currently implemented. First, prior work mostly assumes that ...

In stressing the role played by individual and family optimizing decisions in human capital investments, important aspects of income determination are brought back within the mainstream of economic ...

This paper reviews and synthesizes the literature on the macroeconomic implications of human capital theory. I begin with a review of the canonical model of education and the wage structure pioneered ...