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UID:16465e070091f66da38f9c7c0f3ded83
CATEGORIES:Seminars
CREATED:20190502T151027
SUMMARY:Lunch Seminar: Paolo Martellini - University of Pennsylvania
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nInside the Agglomeration Black Box: Sorting, Matching or Learning?\nAbs
 tract:\nWhy do workers earn higher wages in larger cities, and why does the
  city-size wage gap increase over the life-cycle? In this paper, I address 
 this long-standing questions by building a structural model that I use to m
 easure the contribution of sorting, returns to scale in the labor search pr
 ocess, and knowledge spillovers within cities. The model is estimated so as
  to replicate key features of the heterogeneity in workers' labor market ex
 perience across small and large cities. I validate the estimated model by t
 esting its ability to generate migration choices that are consistent with s
 ome untargeted moments related to the selection into and the return to migr
 ation. A decomposition of the city-size wage gap shows that both sorting of
  high-skilled workers and knowledge spillovers become increasingly importan
 t over the life-cycle, each accounting for about 40% of the gap after 20 ye
 ars of labor market experience - the remaining portion is generated by high
 er firm-worker match quality due to increasing returns to search. I then us
 e this framework to study the aggregate and distributional consequences of 
 changes in the house price elasticity to city-size (for example, due to hou
 sing regulation). The benefit of lower living costs in a large city is coun
 teracted by the deterioration in its worker composition, which limits its r
 ole as a place of knowledge diffusion. \n\n
DTSTAMP:20260404T232819Z
DTSTART:20190619T130000Z
DTEND:20190619T140000Z
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