BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:ad47cd57eb48671768bdb8e529464f5c
CATEGORIES:Seminars
CREATED:20190704T082548
SUMMARY:Lunch Seminar:  Niklas Engbom - Federal Reserve Bank of Minneapolis
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nThe Aggregate Consequences of Labor Market Fluidity\n\n\nAbstract:\nUsi
 ng panel data for 1990--2014 from 12 OECD countries, I document three facts
 : First, job-to-job mobility and life-cycle wage growth differ substantiall
 y across countries. Second, countries with higher labor market fluidity see
  greater life-cycle wage growth. Third, the wage gains directly associated 
 with job-to-job mobility account for only 40 percent of the steeper wage gr
 owth in more fluid labor markets. To account for these facts, I propose a t
 heory of on-the-job search and human capital accumulation, which highlights
  that a faster rate of climbing the job ladder encourages human capital inv
 estment by raising its expected return. The mechanism accounts for the cova
 riation between fluidity and wage growth, and implies that two standard dev
 iations lower fluidity is associated with 11 percent lower aggregate output
 .\n
DTSTAMP:20260404T190932Z
DTSTART:20190705T130000Z
DTEND:20190705T140000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR