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Michael BÖHM (University of Bonn) – “Occupation Growth, Skill Prices, and Wage Inequality “
Microeconometrics Seminar: Every Tuesday
Time: 12:15 pm – 1:30 pm
Date: 30th of November 2021
Room : 3001 et visio
Michael BÖHM (University of Bonn) – “Occupation Growth, Skill Prices, and Wage Inequality”
Abstract: This paper studies the relationship between occupational employment, occupational wages, and rising wage inequality. We document that in all occupations, entrants and leavers earn less than stayers. This suggests selection effects that are negative for growing occupations and positive for shrinking ones. We estimate a model for occupational skill prices, which includes occupation-specific skill accumulation and endogenous switching across many occupations. Consistent with leading explanations for occupational changes, estimated prices (i.e., selection-corrected wages) and occupational employment growth are positively related. Skill prices also establish a long-suspected quantitative connection between occupational changes and the surge in wage inequality.
Benoît SCHMUTZ (Pôle d’économie du CREST)
Anthony STRITTMATTER (Pôle d’économie du CREST)