中文摘要：

人力资本水平的估算问题已备受关注，本文论证了永续盘存法估算人力资本存量的合理性和可行性，遵循物质资本与人力资本在估算思路、前提假设、计算依据等方面一致可比的原则，系统讨论了永续盘存法框架下人力资本存量的估算技术，有效解决了人力资本折旧确定问题、人力资本投资价格指数编制问题，从而形成了人力资本存量水平估算的整体方案。并讨论了人力资本效率分解的方法。在此基础上，本文就中国1995—2005年人力资本存量水平和效率水平做了估算。

英文摘要：

The measurement of human capital is widely under attention. This paper demonstrates the rationality and feasibility of perpetual inventory method （PIM） in estimating human capital. According to the comparability between physical capital and human capital on theory, assumption and basis, the estimating techniques of human capital with PIM is discussed. Human capital depreciation is confirmed, and human investment price index is designed, and then the measuring system of human capital is put forward. Based above, the stock and inefficiency of human capital in China from 1995 to 2005 is also demonstrated in this paper.