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发展经济workshop:“Golden Ages”: A Tale of the Labor Markets in China and the United States
发布日期：2023-03-01 12:00 来源：
题目：“Golden Ages”: A Tale of the Labor Markets in China and the United States 论文请下载../../docs/20230228100745280307.pdf 嘉宾介绍：Xincheng Qiu will join the Department of Economics, W. P. Carey School of Business, Arizona State University, as an Assistant Professor. He is a Ph.D. candidate in the Department of Economics at the University of Pennsylvania. His research focuses on the macroeconomics of labor markets. He has been named the Dean's Scholar in recognition of his outstanding scholarly achievement. 嘉宾简历请下载../../docs/20230228100657395274.pdf 时间：北京时间3月1日上午10:00-11:00
论文摘要： Abstract We study the labor markets in China and the United States, the two largest economies in the world, by examining the evolution of their cross-sectional age-earnings profiles during the past thirty years. We find that, first, the peak age in the cross-sectional age-earnings profiles, which we refer to as the “golden age,” stayed almost constant at around 45-50 in the U.S., but decreased sharply from 55 to around 35 in China; second, the age-specific earnings grew drastically in China, but stayed almost stagnant in the U.S.; third, the cross-sectional and life-cycle age-earnings profiles were remarkably similar in the U.S., but differed substantially in China. We propose and empirically implement a decomposition framework to infer from the repeated cross-sectional earnings data the experience effect (i.e., human capital accumulation over the life cycle), the cohort effect (i.e., inter-cohort human capital growth), and the time effect (i.e., changes in the human capital rental prices over time), under an identifying assumption that the growth of the experience effect stops at the end of one’s working career. The decomposition suggests that China has experienced a much larger inter-cohort productivity growth and higher increase in the rental price to human capital, but lower returns to experience, compared to the U.S. We also use the inferred components to revisit several important and classical applications in macroeconomics and labor economics, including growth accounting and the estimation of TFP growth, and the college wage premium and skill-biased technical change. 参与方式：线上 Zoom https://us06web.zoom.us/j/82606473260?pwd=a3N0NDZxd1d3aHhFVWhSOHFiZVZZZz09 Meeting ID: 826 0647 3260 Passcode: 445883 讲座开始前，我们有一个小时与嘉宾的交流时间，请感兴趣的同学邮件联系:xuanwang@nsd.pku.edu.cn
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发展经济workshop:“Golden Ages”: A Tale of the Labor Markets in China and the United States
发布日期：2023-03-01 12:00 来源：
题目：“Golden Ages”: A Tale of the Labor Markets in China and the United States 论文请下载../../docs/20230228100745280307.pdf 嘉宾介绍：Xincheng Qiu will join the Department of Economics, W. P. Carey School of Business, Arizona State University, as an Assistant Professor. He is a Ph.D. candidate in the Department of Economics at the University of Pennsylvania. His research focuses on the macroeconomics of labor markets. He has been named the Dean's Scholar in recognition of his outstanding scholarly achievement. 嘉宾简历请下载../../docs/20230228100657395274.pdf 时间：北京时间3月1日上午10:00-11:00
论文摘要： Abstract We study the labor markets in China and the United States, the two largest economies in the world, by examining the evolution of their cross-sectional age-earnings profiles during the past thirty years. We find that, first, the peak age in the cross-sectional age-earnings profiles, which we refer to as the “golden age,” stayed almost constant at around 45-50 in the U.S., but decreased sharply from 55 to around 35 in China; second, the age-specific earnings grew drastically in China, but stayed almost stagnant in the U.S.; third, the cross-sectional and life-cycle age-earnings profiles were remarkably similar in the U.S., but differed substantially in China. We propose and empirically implement a decomposition framework to infer from the repeated cross-sectional earnings data the experience effect (i.e., human capital accumulation over the life cycle), the cohort effect (i.e., inter-cohort human capital growth), and the time effect (i.e., changes in the human capital rental prices over time), under an identifying assumption that the growth of the experience effect stops at the end of one’s working career. The decomposition suggests that China has experienced a much larger inter-cohort productivity growth and higher increase in the rental price to human capital, but lower returns to experience, compared to the U.S. We also use the inferred components to revisit several important and classical applications in macroeconomics and labor economics, including growth accounting and the estimation of TFP growth, and the college wage premium and skill-biased technical change. 参与方式：线上 Zoom https://us06web.zoom.us/j/82606473260?pwd=a3N0NDZxd1d3aHhFVWhSOHFiZVZZZz09 Meeting ID: 826 0647 3260 Passcode: 445883 讲座开始前，我们有一个小时与嘉宾的交流时间，请感兴趣的同学邮件联系:xuanwang@nsd.pku.edu.cn
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