-linked externalities (JLEs). JLEs emerge when wages exceed the opportunity cost of labor (labor externalities), or when there are social … gains from creating better jobs for some classes of worker, such as women or youth (social externalities). Like all … externalities, JLEs create a gap between private and social rates of return. Investments can be socially profitable (once the …

available. In this paper, we use nationally representative cohort data linked to administrative education records to study the …

This paper develops a model of costly firm creation in an economy with weak institutions, costly business environment … environment tend to be more effective in creating productive firms when accompanied by narrowing skill gaps. Similarly, more … conducive business regulations amplify the positive impact on firm creation of better education and reduced skill mismatches. To …