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BEGIN:VEVENT
UID:f2f425b5acf1531a48b55ee0d38d9ad3
CATEGORIES:Seminars
CREATED:20190513T153153
SUMMARY:Lunch Seminar: Shu Lin Wee - Carnegie Mellon University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><strong><span style="font-size: 11pt; font-family: 'Calibri','sans-serif
 ';">Replacement Hiring and the Productivity Wage-Gap</span></strong><span s
 tyle="font-size: 11pt; font-family: 'Calibri','sans-serif';"> joint with Su
 shant Acharya </span></p><p><span style="font-size: 11pt; font-family: 'Cal
 ibri','sans-serif';">Abstract:</span></p><p style="text-align: justify;"><s
 pan style="font-size: 11pt; font-family: 'Calibri','sans-serif';">A large a
 nd growing share of hires in the US are replacement hires. This increase co
 incides with a growing productivity-wage gap. We connect these trends by bu
 ilding a model where firms post long-lived vacancies and engage in on-the-j
 ob search for more productive workers. These features improve a firm's barg
 aining position while raising workers' job insecurity and the wedge between
  hiring and meeting rates. All three channels lower wages while raising pro
 ductivity.  Quantitatively, increased replacement hiring explains half the 
 increase in the productivity-wage gap. The socially efficient outcome featu
 res fewer low-productivity jobs and a 10% narrower productivity-wage gap.</
 span></p>
DTSTAMP:20260403T183527Z
DTSTART:20190529T130000Z
DTEND:20190529T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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