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Finance and Economics Discussion Series
The Finance and Economics Discussion Series logo links to FEDS home page Empirical Evidence on Human Capital Spillovers
Jeremy B. Rudd

Abstract: 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 practice.

Keywords: Human capital externalities, endogenous growth

Full paper (154 KB PDF)

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Last update: October 26, 2000