education in China appear to be zero. We estimate an instrumental variables fixed effects model where share of college graduates … is instrumented by the number of universities with special status and find positive external returns to education of … rural, men, and low-educated workers. This finding provides the motivation for increasing education investment in rural …

This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model …. -- Externalities ; human capital ; multiple equilibria …

selection. Building on their framework we demonstrate that externalities between agents - an agent's utility upon accepting a … when the size of the externalities is arbitrarily small. Our result highlights the degree of control a principal has over …

We construct a model of offshoring with externalities and firm heterogeneity. Due to the presence of externalities … externalities can help explain the dynamic process of offshoring, where the most productive firms offshore first and the others …

externalities (social returns to education) there exists a range of microloan amounts that are growth depressing and welfare … divert investment away from human capital: by failing to internalize the social returns to education, households …

availability has thus far prevented researchers from directly connecting STEM education to human capital externalities. This paper …Previous research suggests that the local stock of human capital creates positive externalities within local labor … positive wage externalities, but STEM graduates create much larger externalities. …

fluctuations ; market imperfections ; externalities ; imperfect competition ; taxation …

returns ; education externalities ; contingent valuation ; earnings …Much is known about private returns to education in the form of higher earnings. Less is known about social value, over … and above the private, market value. Associations between education and socially-desirable outcomes are strong, but …