Resource title

Identifying Human Capital Externalities: Theory with an Application to US Cities

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Resource description

Identification of the strength of human capital externalities at the aggregate level is still not fully understood. The existing method may yield positive or negative externalities even if wages reflect marginal social products. We propose an approach that yields positive average human capital externalities if and only if the marginal social product of workers with aboveaverage human capital exceeds their wage. As an application, we estimate the strength of average-schooling externalities in US cities between 1970 and 1990.

Resource author

Antonio Ciccone, Giovanni Peri

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Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/21469

Resource license

Adapt according to the presented license agreement and reference the original author.