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Title:Identifying Human Capital Externalities: Theory with an Application to US Cities PDF Logo
Authors:Ciccone, Antonio
Peri, Giovanni
Issue Date:2002
Series/Report no.:IZA Discussion paper series 488
Abstract: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.
Subjects:marginal social product of human capital
wages
human capital externalities
imperfect substitution
perfect substitution
cities
JEL:J3
R0
O4
O0
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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