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The Allocation of Talent and U.S. Economic Growth

Dates:
  • Mon 19 Oct 2020 15.00 - 16.30
  Add to Calendar 2020-10-19 15:00 2020-10-19 16:30 Europe/Paris The Allocation of Talent and U.S. Economic Growth

Seminar of the Inequality, Welfare and Social Justice interdisciplinary research cluster.

Presentation of The Allocation of Talent and U.S. Economic Growth by Chang-Tai Hsieh, Erik Hurst, Charles I. Jones, and Peter J. Klenow (Econometrica, Vol. 87, No. 5, September 2019).

We will study how disadvantaged groups in the U.S., namely women and black men, have caught up with white men in terms of employment in high-skilled occupations like medicine and law. Given that the innate talent for these professions is unlikely to have changed differently across groups, the observed change in the occupational distribution reflects a lowering of the degree of talent misallocation over time due to the following three reasons – (i) lower discrimination in the labour market, (ii) reduced barriers to acquiring human capital for the high-skilled professions, and (iii) change in preferences or social norms regarding the choice of occupations across groups. We will describe a theoretical framework to quantify the relative contribution of each of these three channels of reducing talent misallocation. Furthermore, we will also quantify the impact of the improved allocation of talented people across occupations on the aggregate productivity of the U.S. economy.

Please register here by next Thursday 15 October. Registered participants will receive a link to access reading materials.

Sala del Capitolo - Badia Fiesolana DD/MM/YYYY
  Sala del Capitolo - Badia Fiesolana

Seminar of the Inequality, Welfare and Social Justice interdisciplinary research cluster.

Presentation of The Allocation of Talent and U.S. Economic Growth by Chang-Tai Hsieh, Erik Hurst, Charles I. Jones, and Peter J. Klenow (Econometrica, Vol. 87, No. 5, September 2019).

We will study how disadvantaged groups in the U.S., namely women and black men, have caught up with white men in terms of employment in high-skilled occupations like medicine and law. Given that the innate talent for these professions is unlikely to have changed differently across groups, the observed change in the occupational distribution reflects a lowering of the degree of talent misallocation over time due to the following three reasons – (i) lower discrimination in the labour market, (ii) reduced barriers to acquiring human capital for the high-skilled professions, and (iii) change in preferences or social norms regarding the choice of occupations across groups. We will describe a theoretical framework to quantify the relative contribution of each of these three channels of reducing talent misallocation. Furthermore, we will also quantify the impact of the improved allocation of talented people across occupations on the aggregate productivity of the U.S. economy.

Please register here by next Thursday 15 October. Registered participants will receive a link to access reading materials.


Location:
Sala del Capitolo - Badia Fiesolana

Affiliation:
Academic Service
Department of Economics
Department of History and Civilization
Department of Law
Department of Political and Social Sciences

Type:
Research seminar

Contact:
Serena Belligoli (EUI - Academic Service) - Send a mail

Organiser:
Prof. Laura Lee Downs
Prof. Thomas Crossley (University of Essex)
Prof. Anton Hemerijck (EUI - Department of Political and Social Sciences)

Speaker:
Aruni Mitra (EUI)

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