Identifying Human Capital Externalities PDF Download
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Author: Antonio Ciccone
Publisher: Fundacion BBVA
ISBN:
Category : Human capital
Languages : en
Pages : 73
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Book Description
Author: Antonio Ciccone
Publisher: Fundacion BBVA
ISBN:
Category : Human capital
Languages : en
Pages : 73
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Book Description
Author: Antonio Ciccone
Publisher:
ISBN:
Category :
Languages : en
Pages : 64
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Book Description
Author: Steven Yamarik
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper estimates human capital externalities across U.S. states, using the Current Population Survey (CPS) and state-level data. By directly controlling for individual job characteristics and state labor market conditions, we can identify the human capital externality in an augmented Mincerian model. We find that an extra year of state-level average schooling increases individual wages by five percent above and beyond the private return to education. Subsequent analysis finds that the estimated externality is larger in highly-educated, highly-innovative states. These results imply that the positive coefficient for state-level schooling is in fact an externality and that differences in human capital externalities can help explain "The Great Divergence" in wages between geographic areas with highly-skilled workers versus those with low-skilled workers.
Author: Antonio Ciccone
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Enrico Moretti
Publisher:
ISBN:
Category : Cities and towns
Languages : en
Pages : 60
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Book Description
What is the effect of an increase in the overall level of human capital on the economy of a city? Although much is known about the private return to education, much less is known about the more important question of what happens to productivity, wages and land prices when the aggregate stock of human capital in a city increases. Increases in the aggregate stock of human capital can benefit society in ways that are not fully reflected in the private return of education. Human capital spillovers can in theory increase aggregate productivity over and above the direct effect of human capital on individual productivity. Furthermore, increases in education can reduce criminal participation and improve voters' political behavior. In this paper, I review what we know about social returns to education, with a particular emphasis on those externalities that accrue to local geographic areas. The focus of the paper is on the empirical issues that arise in identifying these externalities and on the existing empirical evidence on their magnitude. This paper was prepared as a chapter for the forthcoming Handbook of Urban and Regional Economics
Author: Antonio Ciccone
Publisher:
ISBN:
Category : Externalities (Economics)
Languages : en
Pages : 64
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Author: Alexander Muravyev
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The paper tests for the existence of human capital externalities using a micro-level approach: the Mincerian wage regression augmented with the average level of education in cities. To solve identification problems arising from the endogeneity of average education, the study exploits a natural experiment provided by the process of economic transition: average education at the end of communism can be seen as exogenous in respect of wages prevailing after the start of transition. Our empirical results based on the RLMS data show that a 1 percentage point increase in the share of city residents with a university degree results in an increase of wages of city residents by about 1 percent.
Author: Alesia Dawidowicz
Publisher:
ISBN:
Category :
Languages : en
Pages : 122
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Author: Ben Bernanke
Publisher: Mit Press
ISBN: 9780262025034
Category : Macroeconomics
Languages : en
Pages : 418
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Book Description
The NBER Macroeconomics Annual presents, extends, and applies pioneering work in macroeconomics and stimulates work by macroeconomists on important policy issues. Each paper in the Annual is followed by comments and discussion.
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Author: Canada. Department of Finance
Publisher:
ISBN:
Category :
Languages : en
Pages :
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