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A note on human capital externalities, factor substitution, and technology differences


  • Erich Gundlach

    () (Hamburg University and GIGA German Institute of Global and Area Studies)

  • Rasmus Thönnessen

    () (Hamburg University)


Estimates of human capital externalities that are based on the Mincerian approach have been found to be biased in the presence of limited possibilities for factor substitution. Technology differences may be more important for the Mincerian bias than limited possibilities for factor substitution.

Suggested Citation

  • Erich Gundlach & Rasmus Thönnessen, 2015. "A note on human capital externalities, factor substitution, and technology differences," Economics Bulletin, AccessEcon, vol. 35(3), pages 1681-1686.
  • Handle: RePEc:ebl:ecbull:eb-14-00802

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    More about this item


    Mincerian bias; Rybczynski theorem; factor substitution; technology differences;

    JEL classification:

    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity


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