Report
Human capital and economic activity in urban America
Abstract: We examine the relationship between human capital and economic activity in U.S. metropolitan areas, extending the literature in two ways. First, we utilize new data on metropolitan area GDP to measure economic activity. Results show that a one-percentage-point increase in the proportion of residents with a college degree is associated with about a 2 percent increase in metropolitan area GDP per capita. Second, we develop measures of human capital that reflect the types of knowledge within U.S. metropolitan areas. Regional knowledge stocks related to the provision of producer services and information technology are important determinants of economic vitality.
Keywords: productivity; human capital; new economy; knowledge;
JEL Classification: R11; J24; O40;
Access Documents
File(s): File format is application/pdf https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr332.pdf
File(s): File format is text/html https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr332.html
Authors
Bibliographic Information
Provider: Federal Reserve Bank of New York
Part of Series: Staff Reports
Publication Date: 2010-02-01
Number: 332
Pages: 33 pages
Note: For a published version of this report, see Jaison R. Abel and Todd M. Gabe, "Human Capital and Economic Activity in Urban America," Regional Studies 45, no. 8 (September 2011): 1079-90.