TY - JOUR AB - Models of endogenous economic growth typically assume that aggregate production is characterised by increasing returns to scale, often as a result of the accumulation of physical and human capital. In this paper, an international data‐set on formal educational attainments is used to disaggregate total employment in order to estimate a Cobb‐Douglas aggregate production function. The function is estimated, using a pooled cross‐section time‐series model, for a selection of high income OECD countries for five years in the period 1960‐85. The estimation results suggest that increasing returns to scale prevailed. VL - 25 IS - 2 SN - 0144-3585 DO - 10.1108/01443589810202120 UR - https://doi.org/10.1108/01443589810202120 AU - Hansen Paul AU - Knowles Stephen PY - 1998 Y1 - 1998/01/01 TI - Human capital and returns to scale T2 - Journal of Economic Studies PB - MCB UP Ltd SP - 118 EP - 123 Y2 - 2024/03/29 ER -