This paper examines whether the average level of human capital in a region affects the earnings of an individual residing in that region in a manner that is external to the individual’s own human capital. I find little evidence of an external effect of human capital, which suggests that human capital spillovers of the form postulated by the new growth literature are unlikely to matter much in p...

The paper investigates the relationship between human capital diversity measured in terms of occupational diversity and a rm's likelihood to innovate. The empirical analysis is based on a linked employer-employee panel dataset of German rms over the period 1998 to 2007. Despite notable di erences between service and manufacturing rms, our results clearly indicate a positive relationship between...

We analyse how progressive taxation and education subsidies affect schooling decisions when the returns to education are stochastic. We use the theory of real options to solve the problem of education choice in a dynamic stochastic model. We show that education attainment will be an increasing function of the risk associated with education. Furthermore, this result holds regardless of the degre...

Labor Productivity and Vocational Training: Evidence from Europe In this paper we show that vocational training is an important determinant of productivity growth. We construct a multi-country, multi-sectoral dataset, and quantify empirically to what extent vocational training has contributed to increase the growth rate of labor productivity in Europe between 1999 and 2005. We find that one ext...

En este estudio se verifica en qué medida las muertes y la oferta laboral inciden generación de capital humano el depar-tamento Bolívar durante periodo 2002 – 2009, para lo cual empleó información recolectada por DANE Ministerio Educación Nacional. Inicialmente realiza caracterización análisis variables luego desarrolla un ejercicio eco-nométrico utilizando método efectos fijos con corrección h...

Abstract An agent can perform a job in several ways, which we call tasks. Choosing agents’ tasks is the prerogative of management within firms, and agents themselves if they are entrepreneurs. While comparative advantage at different unknown, it be learned by observing their performance. However, that generate more information could lead to lower short-term profits. Hence, firms will allocate w...

This paper uses administrative data from Sweden to document trends in the labor market returns skills. Between 1992 and 2013, economic return noncognitive skill—a psychologist-assessed measure of teamwork leadership skill—roughly doubled. The cognitive skill was relatively stable decreased modestly during 2000s, however. Among men with similar levels education, is higher than skill. increasing ...

In this paper, I document that workers in larger cities have significantly more occupational options than smaller ones. They are able to form better matches and earn higher wages. also note differences occupation reallocation patterns across cities. develop a dynamic model of choice microfounds agglomeration economies captures the empirical patterns. The calibration suggests match quality accou...

We investigate the wage return to studying economics by leveraging a policy that prevented students with low introductory grades from declaring major. Students who barely met grade point average threshold major in earned $22,000 (46 percent) higher annual early-career wages than they would have their second-choice majors. Access shifts students' preferences toward business/finance careers, and ...