The identification of aggregate human-capital externalities is still not fully understood. The existing ("Mincerian") approach confounds positive externalities with wage changes due to a downward sloping demand curve for human capital. As a result, the Mincerian approach yields positive externalities even when wages equal marginal social products. We propose an approach that identifies human-capital externalities, whether or not aggregate demand for human capital slopes downward. Another advantage of our approach is that it does not require estimates of the individual return to human capital. Applications to U.S. cities and states between 1970 and 1990 yield no evidence of significant average-schooling externalities. Copyright 2006 The Review of Economic Studies Limited.
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机译：总体人力资本外部性的识别仍未完全了解。由于人力资本的需求曲线向下倾斜，现有的方法（“ Mincerian”）将正外部性与工资变动混淆了。结果，即使工资等于边际社会产品，Mincerian方法也产生了积极的外部性。我们提出一种确定人力资本外部性的方法，无论对人力资本的总需求是否下降。我们方法的另一个优点是它不需要估计个人的人力资本回报。在1970年至1990年期间向美国城市和州提出的申请没有任何证据表明存在明显的中等教育外部性。版权所有2006 The Review of Economic Studies Limited。
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