中文摘要
本文利用动态潜因子模型研究儿童技能形成过程, 以识别技能生产函数的关键特征。我们构建并估计了潜在投资与技能发展的联合动态过程, 在技能形成技术中同时纳入了父母投资与儿童技能之间的静态与动态互补性。对美国数据的分析表明, 儿童早期投资(5–6 岁)对认知技能发展非常有效, 且对既有技能较低的儿童边际生产率更高。这表明, 以弱势幼儿为干预目标最为有益。
Abstract
In this paper, we study the process of children’s skill formation using a dynamic latent factor model to identify key features of the skill production function. We develop and estimate a joint dynamic process for latent investment and skill development, incorporating both static and dynamic complementarities between parental investments and children’s skills in the technology of skill formation. Our analysis of US data reveals that early childhood investments (age 5–6) are highly effective for cognitive skill development, with greater marginal productivity for children with lower existing skills. This suggests that targeting interventions at disadvantaged young children is most beneficial.