ESTIMATED PARAMETERS OF HALL-JONES SCALE WITH HUMAN CAPITAL BASED ON RUSSIAN DATA
I.N. Karelin, A.V. Koritskiy
Novosibirsk State University of Architecture and Civil Engineering, 113, Leningradskaya st., Novosibirsk, Novosibirsk region, 630008
Keywords: макроэкономический анализ, человеческий капитал, модель Холла-Джонса, macroeconomic analysis, human capital, Hall-Jones scale
Abstract
The authors try to estimate total factor productivity of the Russian economy. Hall-Jones scale is applied when carrying out macroeconomic spatial analysis of total factor productivity and output elasticity with respect to human and physical capital. Dynamic analysis of total factor productivity and output elasticity coefficient (income, expenses, wages of Russia’s population) with respect to physical and human capital for 2003-2012 was carried out. Total factor productivity increases and output elasticity decreases with respect to human capital in the considered period of time.
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