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

agents across the different alternatives. We analyze the case of linear positive externalities. Assuming a simple Markovian …

relationship between agglomeration externalities and the level of education. While the positive relationship between economic …