Human capital spillovers and returns to education

Pedro Portugal, Hugo Reis, Paulo Guimarães, Ana Rute Cardoso

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Resumo

In this paper, we quantify the impact of co-workers’ human capital on a worker’s productivity and, more specifically, the spillovers of co-workers’ education within the workplace. We identify the impact of peer quality and provide an unambiguous decomposition of the impact of unobserved heterogeneity on the estimated returns to education. We find that peer effects are quite sizeable. A one standard deviation increase in the measure of peer quality leads to a wage increase of 2.1 percent. We also unveil that an additional year of average education of co-workers yields a 0.5 percent increase in the individual own wage.
Idioma originalEnglish
Local da publicaçãoLisboa
EditoraBanco de Portugal
Número de páginas43
ISBN (eletrónico)9789896788476
Estado da publicaçãoPublicado - dez. 2022

Série de publicação

NomeWorking papers 2022
EditoraBanco de Portugal
N.º19

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