How Much Does a Single Graduation Cohort From Further Education Colleges Contribute to an Open Regional Economy?

Hermannsson, Kristinn and Lecca, Patrizio and Swales, Kim (2014) How Much Does a Single Graduation Cohort From Further Education Colleges Contribute to an Open Regional Economy? Discussion paper. University of Strathclyde, Glasgow.

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    Abstract

    Econometric analysis has been inconclusive in determining the contribution that increased skills have on macroeconomic performance whilst conventional growth accounting approaches to the same problem rest on restrictive assumptions. We propose an alternative micro-to-macro method which combines elements of growth accounting and numerical general equilibrium modelling. The usefulness of this approach for applied education policy analysis is demonstrated by evaluating the macroeconomic impact on the Scottish economy of a single graduation cohort from further education colleges. We find the macroeconomic impact to be significant. From a policy point of view this supports a revival of interest in the conventional teaching role of education institutions.

    Author(s):Hermannsson, Kristinn, Lecca, Patrizio and Swales, Kim
    Item type:Monograph(Discussion paper)
    ID code:68225
    Notes:Published as a paper within the Discussion Papers in Economics, No. 14-04 (2014)
    Keywords:graduates, further education colleges, labour supply, economic impact, general equilibrium, Economic Theory, Education (General), Economics, Econometrics and Finance(all), Education
    Subjects:Social Sciences > Economic Theory
    Education > Education (General)
    Department:Strathclyde Business School > Economics
    Depositing user: Pure Administrator
    Date deposited:04 Jun 2019 09:22
    Last modified:20 Oct 2019 02:25
    URI:https://strathprints.strath.ac.uk/id/eprint/68225
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