Ciccone, Antonio; Peri, Giovanni - Institute for the Study of Labor (IZA) - 2002
Identification of the strength of human capital externalities at the aggregate level is still not fully understood. The … approach that yields positive average human capital externalities if and only if the marginal social product of workers with … aboveaverage human capital exceeds their wage. As an application, we estimate the strength of average-schooling externalities in US …