Human Capital Externalities with Monopsonistic Competition
This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.
|Date of creation:||Sep 2008|
|Publication status:||published in: Economics Letters, 2010, 106 (2), 95-97|
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- V. Bhaskar & Ted To, 1996.
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Labor and Demography
9603001, EconWPA, revised 21 May 1996.
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- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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