Econ Papers Daily / 期刊论文
估计总体人力资本外部性
Estimating Aggregate Human Capital Externalities
摘要
This paper estimates two measures of human capital externalities. By incorporating externalities into an overlapping-generations model of human capital accumulation with Compulsory Schooling Laws (CSL), we show that human capital externalities can be estimated from the effects of CSL for one generation on wages of other generations. Using an instrumental-variable strategy deduced from the model, we find one more year of average schooling at the U.S. state level raises individual wages by 6-8%. Taking this reduced-form estimate into account, we find the elasticity of a typical firm’s productivity with respect to the average human capital of an economy is 0.121.
中文摘要
本文估算了人力资本外部性的两种度量。通过将外部性纳入一个包含义务教育法（CSL）的人力资本积累重叠世代模型中，我们表明，人力资本外部性可以从一代人的CSL对其他代际工资的影响中估计出来。利用从模型推导出的工具变量策略，我们发现美国州级平均教育年限每增加一年，个人工资提高6%-8%。考虑到这一简化形式估计，我们发现典型企业生产率对经济体平均人力资本的弹性为0.121。