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Research ArticleArticle

Local Labor Markets and Human Capital Investments

Russell Weinstein
Published online before print August 13, 2020, 1119-10566R2; DOI: https://doi.org/10.3368/jhr.58.1.1119-10566R2
Russell Weinstein
†Russell Weinstein is an assistant professor in the School of Labor and Employment Relations and in the Department of Economics at the University of Illinois at Urbana-Champaign, and is an IZA research affiliate. E-mail: .
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Abstract

I study whether human capital investments are based on local rather than national demand, using two positive and two negative shocks with differential local effects: the dot-com crash, the fracking boom, the 2008 financial crisis, and the shock making Delaware a financial headquarters. I find impacts on the share of sector-relevant degrees awarded following these shocks, on average across the U.S. However, universities in areas more exposed to sectoral shocks experience greater changes in sector-relevant majors. Differential impacts on major choice at the most exposed universities account for 15%–45% of the overall national effect on sector-relevant degrees.

JEL Classification Codes
  • J24
  • I20
  • R12

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Journal of Human Resources: 60 (3)
Journal of Human Resources
Vol. 60, Issue 3
1 May 2025
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Local Labor Markets and Human Capital Investments
Russell Weinstein
Journal of Human Resources Aug 2020, 1119-10566R2; DOI: 10.3368/jhr.58.1.1119-10566R2

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Local Labor Markets and Human Capital Investments
Russell Weinstein
Journal of Human Resources Aug 2020, 1119-10566R2; DOI: 10.3368/jhr.58.1.1119-10566R2
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Keywords

  • J24
  • I20
  • R12
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