Private and social returns to education may differ in the presence of externalities. In this
paper, I estimate the external return to education by comparing wages for otherwise similar …

The social return to education may exceed the private return if there are externalities. In this
paper, I estimate externalities from education by comparing wages for otherwise similar …

This paper re-examines the impact of city educational composition on wages, often
interpreted as human capital externalities. Using US Census data, I find large, positive …

We review and extend the empirical literature that seeks evidence of a wedge between the
private and social returns to human capital, specifically education. This literature has two …

Economists have speculated for at least a century that the social return to education may
exceed the private return. In this paper, I estimate spillovers from college education by …

This paper presents new evidence on the social returns to education within a
macroeconomic growth regression framework. I use improved schooling data and a macro …

We compare the returns to human capital in rural areas with those in urban areas, and
across the different regions of the US. A key finding is that these returns are considerably …

Following Rauch's seminal study, there has been a growing interest among economists in
estimating human capital externalities at the individual level [J. Rauch, Productivity gains …

The literature on schooling externalities in US cities and states is rather mixed: positive
external effects of average education levels are hardly found while positive externalities from …

Many economists and policymakers believe that education creates positive externalities.
Indeed, average schooling in US states is highly correlated with state wage levels, even …