5 The OECD Human Capital Project: Driving forces behind the HC evolution
6 CES Questionnaire on Measuring Human Capital: An overview Background and motivation Purpose Response
7 CES Questionnaire on Measuring Human Capital: Some findings For most countries the purpose of measuring human capital is multiple. Data sources used to measure human capital are diverse and many of the estimates are in the form of research results only. Only a few countries plan to construct satellite accounts for human capital in general and for educational sector in particular. The majority of countries use multiple human capital measures. As for the specific physical indicators, conventional indicators drawn from education statistics are widely used. For the monetary measures, the income-based approach clearly dominates the cost-based and the residual approaches. The main reasons for choosing the cost-based approach are data availability, applicability in the SNA, and no imputation for uncertain future, while the main challenges are the issues related to data. The income-based approach is taken because it is regarded as being consistent with the economic theory, and with the way that other assets are measured in the SNA; being the well established and widely employed approach with the possibility for constructing a full-fledged human capital account with volumes, values and prices as basic elements.