%0 Report
        %A Kaas, Leo
        %T Human Capital Externalities with Monopsonistic Competition
        %D 2008
        %8 2008 Sep
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 3729
        %U https://www.iza.org/publications/dp3729
        %X This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.
        %K multiple equilibria
%K human capital
%K externalities