Template-Type: ReDIF-Paper 1.0
Author-Name: Kristinn Hermannsson
Author-Name-First: Kristinn
Author-Name-Last: Hermannsson
Author-Email: kristinn.hermannson@glasgow.ac.uk
Author-Workplace-Name: Shool of Education, University of Glasgow
Author-Name: Patrizio  Lecca
Author-Name-First: Patrizio 
Author-Name-Last: Lecca
Author-Email: patrizio.lecca@strath.ac.uk
Author-Workplace-Name: Fraser of Allander Institute, Department of Economics, University of Strathclyde
Author-Name: J Kim Swales
Author-Name-First: J Kim
Author-Name-Last: Swales
Author-Email: j.k.swales@strath.ac.uk
Author-Workplace-Name: Fraser of Allander Institute, Department of Economics, University of Strathclyde
Title: How much does a single graduation cohort from further education colleges contribute to an open regional economy
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.
Length: 34 pages
Creation-Date: 2014-05
Revision-Date: 
Publication-Status: Published
File-URL: http://www.strath.ac.uk/media/1newwebsite/departmentsubject/economics/research/researchdiscussionpapers/2014/14-04.pdf
File-Format: Application/pdf
Number: 1404
Classification-JEL: 123, E17, D58, R13
Keywords: Graduates, Further Education Colleges, Labour Supply, Economic Impact, General Equilibrium
Handle: RePEc:str:wpaper:1404