The identification of aggregate human-capital externalities is still not fully understood. The existing ("Mincerian") approach confounds positive externalities with wage changes due to a downward sloping demand curve for human capital. As a result, the Mincerian approach yields positive...

A key aspect of industrialization is the adoption of increasing-returns-to-scale, industrial, technologies. Two other well-documented aspects are that industrial technologies (ITs) are adopted throughout intermediate-input chains and that they use intermediate inputs intensively relative to the...

The identification of aggregate human-capital externalities is still not fully understood. The existing (Mincerian) approach confounds positive externalities with wage changes due to a downward sloping demand curve for human capital. As a result, the Mincerian approach yields positive...

A key aspect of industrialization is the adoption of increasing-returns-to-scale, industrial, technologies. Two other well-documented aspects are that industrial technologies (ITs) are adopted throughout intermediate-input chains and that they use intermediate inputs intensively relative to the...