Is Mobility of Technical Personnel a Source of R&D Spillovers?
研究技术人员流动是否导致研发知识溢出，发现研发密集型企业的技术人员通过早期低工资为积累知识付费，后期以高工资获得回报，表明劳动力市场部分内部化了流动带来的外部性。
Labor mobility is considered to be an important source of knowledge externalities, making it difficult for firms to appropriate returns to research and development (R&D). Interfirm transfers of knowledge embodied in people should be analyzed within a human capital framework. Testing such a framework, I find that the technical staff in R&D-intensive firms pays for the knowledge they accumulate on the job through lower wages early in their career. They later earn a return on these implicit investments through higher wages. This suggests that the potential externalities associated with labor mobility are, at least partially, internalized in the labor market.