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Identifying Human Capital Externalities. Theory with Applications

  • Ciccone Antonio

    ()

    (POMPEU FABRA UNIVERSITY)

  • Peri Giovanni

    ()

    (UNIVERSITY OF CALIFORNIA)

The identification of aggregate human capital externalities is still not fully understood. The existing (Mincerian) approach confuses positive externalities with wage changes due to a downward sloping demand curve for human capital. As a result, it yields positive externalities even when wages equal marginal social products. We propose an approach that identifies human capital externalities whether or not aggregate demand for human capital slopes downward. Another advantage of our approach is that it does not require estimates of the individual return to human capital. Applications to US cities and states between 1970 and 1990 yield no evidence of significant average-schooling externalities.

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Paper provided by Fundacion BBVA / BBVA Foundation in its series Working Papers with number 201098.

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Length: 73
Date of creation: Dec 2007
Date of revision:
Handle: RePEc:fbb:wpaper:201098
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  1. Enrico Moretti, 2002. "Estimating the Social Return to Higher Education: Evidence From Longitudinal and Repeated Cross-Sectional Data," NBER Working Papers 9108, National Bureau of Economic Research, Inc.
  2. George J. Borjas, 2003. "The Labor Demand Curve Is Downward Sloping: Reexamining The Impact Of Immigration On The Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 118(4), pages 1335-1374, November.
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