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Human Capital Spillovers and Local Unemployment

Listed author(s):
  • Jung Hyun Choi
  • Richard K. Green

This paper examines the magnitude of human capital spillovers on unemployment. Using bothindividual and metropolitan level data, we find that the adult population share of collegegraduates is negatively associated with the unemployment rate. More specifically, we find thatthose who reside in MSAs with higher shares of college graduates are more likely to beemployed, even after controlling for individual, MSA and state level factors including individual’sown education level. The likelihood of being unemployed falls further for the non-collegegraduates compared to the college graduates. We also find that MSAs with higher shares ofcollege graduates have lower average unemployment rates. This education spillover is nottransitory but is an important factor that explains long-term divergences in the MSAunemployment rates.

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File URL: http://lusk.usc.edu/sites/default/files/Human-Capital-Spillovers-and-Local-Unemployment.pdf
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Paper provided by USC Lusk Center for Real Estate in its series Working Paper with number 9319.

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Date of creation: 2014
Handle: RePEc:luk:wpaper:9319
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  1. Antonio Ciccone & Giovanni Peri, 2006. "Identifying Human-Capital Externalities: Theory with Applications," Review of Economic Studies, Oxford University Press, vol. 73(2), pages 381-412.
  2. J. Paul Elhorst, 2003. "The Mystery of Regional Unemployment Differentials: Theoretical and Empirical Explanations," Journal of Economic Surveys, Wiley Blackwell, vol. 17(5), pages 709-748, December.
  3. Mark Partridge & Dan Rickman, 1997. "The Dispersion of US State Unemployment Rates: The Role of Market and Non-market Equilibrium Factors," Regional Studies, Taylor & Francis Journals, vol. 31(6), pages 593-606.
  4. Moretti, Enrico, 2004. "Estimating the social return to higher education: evidence from longitudinal and repeated cross-sectional data," Journal of Econometrics, Elsevier, vol. 121(1-2), pages 175-212.
  5. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-1278, December.
  6. Rauch James E., 1993. "Productivity Gains from Geographic Concentration of Human Capital: Evidence from the Cities," Journal of Urban Economics, Elsevier, vol. 34(3), pages 380-400, November.
  7. Roback, Jennifer, 1988. "Wages, Rents, and Amenities: Differences among Workers and Regions," Economic Inquiry, Western Economic Association International, vol. 26(1), pages 23-41, January.
  8. Curtis J. Simon, 1988. "Frictional Unemployment and the Role of Industrial Diversity," The Quarterly Journal of Economics, Oxford University Press, vol. 103(4), pages 715-728.
  9. Burridge, Peter & Gordon, Ian Richard, 1981. "Unemployment in the British Metropolitan Labour Areas," Oxford Economic Papers, Oxford University Press, vol. 33(2), pages 274-297, July.
  10. Enrico Moretti, 2004. "Workers' Education, Spillovers, and Productivity: Evidence from Plant-Level Production Functions," American Economic Review, American Economic Association, vol. 94(3), pages 656-690, June.
  11. Holzer, Harry J, 1991. "Employment, Unemployment and Demand Shifts in Local Labor Markets," The Review of Economics and Statistics, MIT Press, vol. 73(1), pages 25-32, February.
  12. Tomaz Cajner & Isabel Cairo, 2011. "Human Capital and Unemployment Dynamics: Why More Educated Workers Enjoy Greater Employment Stability," 2011 Meeting Papers 1145, Society for Economic Dynamics.
  13. Evans, Philip & McCormick, Barry, 1994. "The New Pattern of Regional Unemployment: Causes and Policy Significance," Economic Journal, Royal Economic Society, vol. 104(424), pages 633-647, May.
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