| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2216 |
| DP2216 Unemployment and Labour Market Reform: A Contract Theoretic Approach | |
| Hans Peter Grüner | |
| 发表日期 | 1999-08-31 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | Returns to scale to capital and the strength of capital externalities play a key role for the empirical predictions and policy implications of different growth theories. We show that both can be identified with individual wage data and implement our approach at the city-level using US Census data on individuals in 173 cities for 1970, 1980, and 1990. Estimation takes into account fixed effects, endogeneity of capital accumulation, and measurement error. We find no evidence for human or physical capital externalities and decreasing aggregate returns to capital. Returns to scale to physical and human capital are around 80 percent. We also find strong complementarities between human capital and labor and substantial total employment externalities. |
| 主题 | International Macroeconomics |
| 关键词 | Capital externalities Cities Complementarities Human capital Scale effects Returns to scale to capital |
| URL | https://cepr.org/publications/dp2216 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531322 |
| 推荐引用方式 GB/T 7714 | Hans Peter Grüner. DP2216 Unemployment and Labour Market Reform: A Contract Theoretic Approach. 1999. |
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