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Human capital and externalities in cities;
Identifying Human Capital Externalities: Theory with an Application to US cities
Ciccone, Antonio; Peri, Giovanni
Universitat Pompeu Fabra. Departament d'Economia i Empresa
We combine growth theory with US Census data on individual schooling and wages to estimate the aggregate return to human capital and human capital externalities in cities. Our estimates imply that a one-year increase in average schooling in cities increases their aggregate labor productivity by 8 to 11 percent. We find no evidence for aggregate human capital externalities in cities however althoughwe use three different approaches. Our main theoretical contribution is to show how human capital externalities can be identified (non-parametically) even if workers with different levels of human capital are imperfect substitutes in production.
15-09-2005
Macroeconomics and International Economics
human capital
externalities
imperfect substitution
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