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dc.creatorArango-Thomas, Luis Eduardo
dc.creatorBonilla, Gabriela
dc.description.abstractWe provide evidence of private returns to education and of externalities which jointly render social returns to education in Colombia. The spillover is generated by the share of college-educated workers within the working-age population. Thus, the higher this share in the cities, the higher the wages. The size of the externality is about 1.13; that is, an increase of one percentage point in the share will increase wages by 1.13%. For mid-to-high and high educated workers the externality is about 1.07 and 1.3 while for low educated workers it is 0.92,. The public policy program instituted by the agency in charge of promoting undergraduate and graduate education has contributed to increase wages all over the country but mainly in cities different from Bogotá. A positive correlation between the size of cities and human capital agglomeration is also observed; as a result, the size of cities also has predictive power on the externality.
dc.publisherBanco de la República
dc.relation.ispartofDocumentos de Trabajo
dc.relation.ispartofseriesBorradores de Economía
dc.relation.isversionofBorradores de Economía; No. 883
dc.rights.accessRightsOpen Access
dc.titleHuman capital agglomeration and social returns to education in Colombia
dc.typeWorking Paper
dc.subject.jelJ3 - Wages, Compensation, and Labor Costs
dc.subject.jelJ2 - Demand and Supply of Labor
dc.subject.keywordHuman capital agglomeration
dc.subject.keywordSocial returns
dc.subject.keywordPrivate returns
dc.subject.lembCapital humano -- Colombia
dc.subject.lembSalarios -- Colombia
dc.subject.lembConcentración de capital humano -- Colombia
dc.subject.lembEducación superior -- Colombia
dc.subject.lembMercado laboral -- Colombia
dc.subject.lembCrédito educativo -- Colombia
dc.type.spaDocumentos de trabajo
dc.rights.spaAcceso abierto
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0
dc.subject.jelspaJ2 - Oferta y demanda de trabajo
dc.subject.jelspaJ3 - Salarios, remuneraciones y costes laborales
dc.type.hasversionPublished Version
dc.rights.disclaimerLas opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
dc.relation.numberBorrador 883
dc.creator.firmaLuis E. Arango

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