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Identification of the strength of human capital externalities at the aggregate level is still not fully understood. The … existing method may yield positive or negative externalities even if wages reflect marginal social products. We propose an … approach that yields positive average human capital externalities if and only if the marginal social product of workers with …
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This paper analyzes how private decisions and public policies are shaped by personal and societal preferences ("values"), material or other explicit incentives ("laws") and social sanctions or rewards ("norms"). It first examines how honor, stigma and social norms arise from individuals'...
Persistent link: https://www.econbiz.de/10009530311
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Are bans effective at lowering child labor and increasing school attendance and, if so, do these effects lead to positive outcomes later in life? This paper seeks to answer these questions by examining the effect of a 1998 Brazilian law that increased the minimum employment age from 14 to 16. To...
Persistent link: https://www.econbiz.de/10013209861