Recent literature has aimed at evaluating human capital externalities by estimating the effect of human capital on wages at urban level. We argue that this methodology might not identify properly human capital spillovers. We consider a general equilibrium model based on Roback (1982) where both...

The aim of this paper is to evaluate whether domestic and foreign activities of Italian firms are mainly substitutes or complements. We take advantage of a unique firm-level panel data set from the Bank of Italy Survey of Industrial and Service Firms, which provides information on the...