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Human capital in the post crisis economy Pier Carlo Padoan. Mexico City 19-20 October 2009
Key points ,[object Object],[object Object],[object Object],[object Object],[object Object]
Lower potential output levels and growth
Output levels will be lower especially in OECD
Causes of lower output levels, and growth rates ,[object Object],[object Object],[object Object],[object Object]
Higher structural and actual unemployment
TFP and R&D fall in deep recessions
HC depreciates in the recession. But HC is key in exiting the crisis ,[object Object],[object Object],[object Object],[object Object]
The Policy Response ,[object Object],[object Object],[object Object]
Composition of stimulus packages
Enhancing HC. A key reform priority ,[object Object],[object Object],[object Object]
Going for Growth  and HC ,[object Object],[object Object],[object Object]
Going for Growth  and HC ,[object Object],[object Object],[object Object],[object Object]
Real GDP per capita growth and average PISA 2006 test scores (source, Aghion 2009)
Expenditure per student in secondary education and PISA outcomes (source, Aghion 2009)
Going for Growth  helps determine reform priorities  ,[object Object],[object Object]
Going for Growth . The impact of reforms on pc gdp
Open markets and HC ,[object Object],[object Object],[object Object]
Open markets and HC. A simple multicountry model  (Guerrieri, Maggi, and Padoan 2009) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
A simple multicountry model  ,[object Object],[object Object],[object Object],[object Object]
A simple multicountry model  ,[object Object],[object Object],[object Object],[object Object],[object Object]
HC and global knowledge pools ,[object Object],[object Object],[object Object]
Which policies are most effective?  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Policy Simulations. Results  ,[object Object],[object Object],[object Object],[object Object],[object Object]
International mobility of HC  ,[object Object],[object Object]
International mobility of HC. Receiving countries  ,[object Object],[object Object],[object Object]
Figure shows foreign born highly-skilled people in select OECD countries ( By country of birth and country of residence, 2001, thousands )   Figure shows foreign born highly-skilled people in select OECD countries ( By country of birth and country of residence, 2001, thousands )
HC mobility. Sending countries  ,[object Object],[object Object],[object Object],[object Object]
Outward and return migration of Chinese students
Policies for HC mobility ,[object Object],[object Object],[object Object]
Policies for HC mobility ,[object Object],[object Object],[object Object]
Conclusions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Human Capital in the post crisis economy