Journal ArticleDOI
Production and consumption externalities of human capital: an empirical study for Italy
Alberto Dalmazzo,Guido de Blasio +1 more
TLDR
In this article, the effects of local human capital on household-level rents and individual-level wages for a sample of Italian local labour markets were studied, supporting the idea that human capital generates positive externalities at the local level.Abstract:
The estimation of the effect of local human capital on wages only might not identify properly human capital spillovers. Appropriate identification requires considering the joint effect of local human capital on both wages and rents. Empirically, we study the effects of local human capital on household-level rents and individual-level wages for a sample of Italian local labour markets. Our results show a positive and robust effect of local human capital on rents, supporting the idea that human capital generates positive externalities at the local level. Our results also suggest that consumption and production externalities have a similar impact on wages.read more
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Journal ArticleDOI
The Effect of Education on Crime: Evidence From Prison Inmates, Arrests, and Self-Reports
Lance Lochner,Enrico Moretti +1 more
TL;DR: In this article, the authors investigated the effect of high school graduation on participation in criminal activity accounting for endogeneity of schooling and found that completing high school reduces the probability of incarceration by about.76% for whites and 3.4% for blacks.
Journal ArticleDOI
Housing Market Spillovers: Evidence from an Estimated DSGE Model
Stefano Neri,Matteo Iacoviello +1 more
TL;DR: In this paper, the authors investigated the ability of a two-sector model to quantify the contribution of the housing market to business fluctuations using U.S. data and Bayesian methods and found that a large fraction of the upward trend in real housing prices over the last 40 years can be accounted for by slow technological progress in the housing sector.
Journal ArticleDOI
Credit and Banking in a DSGE Model of the Euro Area
TL;DR: In this article, the role of credit-supply factors in business cycle fluctuations is investigated. And the authors show that the existence of a banking sector partially attenuates the effects of demand shocks, while it helps propagate supply shocks.
Journal ArticleDOI
Innovation and Productivity in SMEs - Empirical Evidence for Italy
TL;DR: In this paper, a structural model of innovation in SMEs is developed which incorporates information on innovation success from firm surveys along with the usual R&D expenditures and productivity measures, and then applied the model to data on Italian SMEs from the “Survey on Manufacturing Firms” conducted by Mediocredito-Capitalia covering the period 1995-2003.
Journal ArticleDOI
The general equilibrium effects of fiscal policy: Estimates for the Euro area
TL;DR: In this paper, a dynamic stochastic general equilibrium model featuring a fraction of non-Ricardian agents is presented to estimate the effects of fiscal policy in the Euro area.
References
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The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
Journal ArticleDOI
On the mechanics of economic development
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.
Journal ArticleDOI
A Contribution to the Empirics of Economic Growth
TL;DR: The authors examined whether the Solow growth model is consistent with the international variation in the standard of living, and they showed that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data.
Posted Content
Growth in Cities
Edward L. Glaeser,Edward L. Glaeser,Edward L. Glaeser,Hedi Kallal,Jose A. Scheinkman,Jose A. Scheinkman,Jose A. Scheinkman,Andrei Shleifer,Andrei Shleifer +8 more
TL;DR: In this paper, the authors used a new data set on the growth of large industries in 170 U.S. cities between 1956 and 1987 and found that local competition and urban variety, but not regional specialization, encourage employment growth in industries.
Journal ArticleDOI
Growth in Cities
TL;DR: In this paper, the authors used a new data set on the growth of large industries in 170 U.S. cities between 1956 and 1987 and found that local competition and urban variety, but not regional specialization, encourage employment growth in industries.
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