Essays on the allocation of talent
This thesis studies the mechanisms behind talent misallocation, how it varies over the business cycle and its implications for wage cyclicality. The first chapter shows that uncertainty about education returns has an important role in the propa-gation of inequality across generations. I find that a...
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| Tipo de recurso: | tesis doctoral |
| Estado: | Versión publicada |
| Fecha de publicación: | 2018 |
| País: | España |
| Institución: | CBUC, CESCA |
| Repositorio: | TDR. Tesis Doctorales en Red |
| OAI Identifier: | oai:www.tdx.cat:10803/663634 |
| Acceso en línea: | http://hdl.handle.net/10803/663634 |
| Access Level: | acceso abierto |
| Palabra clave: | Talent misallocation Education Talento Educación 33 |
| Sumario: | This thesis studies the mechanisms behind talent misallocation, how it varies over the business cycle and its implications for wage cyclicality. The first chapter shows that uncertainty about education returns has an important role in the propa-gation of inequality across generations. I find that a theory of local learning about an uncertain skill premium explains the negative correlation between college en-rollment and the share of college graduates when the skill premium is low, and that it accounts for more than half of the enrollment gap between children with low-skill parents and children with high-skill parents. The second chapter exam-ines the dynamics of skill mismatch over the cycle. I provide new evidence that in recessions highly mismatched jobs are destroyed, but also created, and explain this pattern through the lens of a learning model where skill mismatch is unob-served. The last chapter contributes to the ongoing debate about wage cyclicality. I show that excess wage cyclicality of job switchers goes beyond skill mismatch cyclicality, and that skill mismatch amplifies wage cyclicality. |
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