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New firm formation is a critical driver of job creation, and an important contributor to the responsiveness of the economy to aggregate shocks. In this paper we examine the characteristics of the individuals who become entrepreneurs when local opportunities arise due to an increase in local...
Persistent link: https://www.econbiz.de/10012480763
What is the effect of an increase in the overall level of human capital on the economy of a city? Although much is known about the private return to education, much less is known about the more important question of what happens to productivity, wages and land prices when the aggregate stock of...
Persistent link: https://www.econbiz.de/10012469057
This paper presents a model where human capital differences - rather than technology differences - can explain several central phenomena in the world economy. The results follow from the educational choices of workers, who decide not just how long to train, but also how broadly. A "knowledge...
Persistent link: https://www.econbiz.de/10012464508
Over the past 30 years, the share of adult populations with college degrees increased more in cities with higher initial schooling levels than in initially less educated places. This tendency appears to be driven by shifts in labor demand as there is an increasing wage premium for skilled people...
Persistent link: https://www.econbiz.de/10012467060
Decisions to invest in human capital depend on people's time preferences. We show that differences in patience are closely related to substantial subnational differences in educational achievement, leading to new perspectives on longstanding within-country disparities. We use social-media data -...
Persistent link: https://www.econbiz.de/10014372447
This paper uses a dynamic competitive spatial equilibrium framework to evaluate the contribution of rural-urban migration induced by structural transformation to the behavior of Chinese housing markets. In the model, technological progress drives workers facing heterogeneous mobility costs to...
Persistent link: https://www.econbiz.de/10012482233
to the city each year, China is experiencing the largest internal migration in the human history. Using instrumental … variables in the 2006 China Agricultural Census, we find that a 10-percentage-point increase in the migration rate of co …
Persistent link: https://www.econbiz.de/10012462981
, the urban-rural income inequality. This pattern in the data suggests that inferences based solely on China's national …
Persistent link: https://www.econbiz.de/10012470105
In a rare example of an explicit national goal for income distribution besides reducing poverty, China's leadership has … the potential trade-offs, the paper asks whether China's experience indicates that income-polarization was a by-product of … polarizing in China …
Persistent link: https://www.econbiz.de/10012660061
development zones on firm level TFP in China. The difference-in-difference estimator shows that on average, loss of development … three major seaports in China, closure of zones reduced firm-level TFP by 9.62%, whereas closure of zones farther away did … locational heterogeneity. We conclude that China's strategy of using development zones as a place-based policy to encourage …
Persistent link: https://www.econbiz.de/10012480094