Experience Matters: Human Capital and Development Accounting

We thank Daron Acemoglu, Mark Aguiar, Paco Buera, Francesco Caselli, Thomas Chaney, Sylvain Chassang, Angus Deaton, Mike Golosov, Fatih Guvenen, Lutz Hendricks, Erik Hurst, Joe Kaboski, Nobu Kiyotaki, Pete Klenow, Jonathan Parker, Richard Rogerson, Paul Romer, Sam Schulhofer-Wohl, David Sraer, David Weil and Fabrizio Zillibotti for their insights; the participants at the Princeton Macro Faculty Lunch, World Bank Macro Seminar, Rochester Macro Seminar, LSE Macro Seminar, EIEF Summer Seminar, EUI Macro Seminar, Columbia Development Seminar, Harvard Macro Seminar, Harvard/MIT Development seminar, Warwick Development Seminar, UQAM Macro Seminar, Laval Macro Seminar, Chicago Applied Workshop, USC Macro Seminar, CUNY Macro Seminar, SED Annual Meetings, NBER Summer Institute Growth Workshop, NBER Summer Institute EFG, BREAD, NEUDC, DFG conferences and the Conference on Human Capital at Washington University in St. Louis for useful comments. We thank Xin Meng for providing us with extracts from the Chinese Urban Household Surveys; and Anne Case and the RPDS for sharing their data from Taiwan and South Africa. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• December 5, 2012
• November 25, 2013