This paper estimates two measures of human capital externalities. By incorporating externalities into an overlapping-generations model of human capital accumulation with Compulsory Schooling Laws (CSL), we show that human capital externalities can be estimated from the effects of CSL for one...

We estimate a model of high school students' college choices, allowing for rich heterogeneity in students' preferences for college attributes. We use data on students' enrollment decisions and application decisions--i.e., the sets of colleges to which they applied--to identify the distribution...