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This paper analyzes the factors underlying the evolution of the worldwide distribution of skills and their implications for global inequality. We develop and parameterize a two-sector, two-class, world economy model that endogenizes education and mobility decisions, population growth, and income...
Persistent link: https://www.econbiz.de/10011931769
workforce, and labor market institutions. …
Persistent link: https://www.econbiz.de/10011931792
This paper examines the effects of the COVID-19 pandemic on the returns to education in the United States. Using data from the Current Population Survey 2011-2022, the analysis reveals that, after a period of decline, returns to education increased significantly because of COVID, particularly...
Persistent link: https://www.econbiz.de/10015096778
In this study we argue that wage inequality and occupational mobility are intimately related. We are motivated by our empirical findings that human capital is occupation-specific and that the fraction of workers switching occupations in the United States was as high as 16% a year in the early...
Persistent link: https://www.econbiz.de/10005761630
negative duration dependence of exit rates from unemployment. Our model has a number of novel testable implications. For …
Persistent link: https://www.econbiz.de/10005762264
This paper suggests that the weak empirical effect of human capital on growth in existing cross-country studies is partly the result of an inappropriate specification that does not account for the different channels through which human capital affects growth. A systematic replication of earlier...
Persistent link: https://www.econbiz.de/10009323405
This paper constructs a two-period overlapping generations model of human capital investment decisions where a microloan program designed to finance entrepreneurial activities is active. It is shown that, in the presence of human capital externalities (social returns to education) there exists a...
Persistent link: https://www.econbiz.de/10008684815
International migration is a selective process that induces ambiguous effects on human capital and economic development in countries of origin. We establish the theoretical micro-foundations of the relationship between selective emigration and human capital accumulation in a multi-country...
Persistent link: https://www.econbiz.de/10014377125
Earnings inequality declined rapidly in Argentina, Brazil and Chile during the 2000s. A reduction in the experience premium is a fundamental driver of declines in upper-tail (90/50) inequality, while a decline in the education premium is the primary determinant of the evolution of lower-tail...
Persistent link: https://www.econbiz.de/10011653446
Labor market institutions, via their effect on the wage structure, affect the investment decisions of firms in labor …
Persistent link: https://www.econbiz.de/10005566412