VIENNA JOINT ECONOMICS SEMINAR	INVITATION
R E M I N D E R The University of Vienna and the Department of Economics and Finance at the Institute for Advanced Studies cordially invite you to the following Vienna Joint Economics Seminar Thursday, November 12, 2015 Attention – New Address Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna Lecture Room E02, ground floor 4:00 pm Michelle Rendall and                        Marek Kapicka U Zurich                                                                        UCSB Math Matters: Education Choices and Wage Inequality  (Michelle Rendall) Abstract: Standard SBTC is a powerful mechanism in explaining the increasing wage gap between educated and uneducated individuals. However, SBTC cannot explain within-group wage inequality in the US. This paper provides an explanation for the observed intra-college group inequality by showing that the top decile earners' significant wage growth is underpinned by the link between ex ante ability, math-heavy college majors and highly quantitative occupations. We develop a general equilibrium model with multiple education outcomes, where wages are driven by individuals' ex ante abilities and acquired math skills. A large portion of within-group and general wage inequality is explained by math-biased technical change (MBTC). paper jointly with Andrew Rendall and Pareto Efficient Income Taxation with Learning by Doing (Marek Kapicka) Abstract: I study the Pareto efficient income taxation in a Mirrlees economy with human capital formation. I provide a general framework for analyzing the problem, show that human capital formation effectively makes preferences nonseparable over labor supply, and derive a tax formula that holds in any efficient allocation. I compare it with the optimal tax formula in a Ramsey economy, and show that they differ because the Ramsey planner does not take into account dynamic changes in the earnings distribution. I show that a model with learning-by-doing, as well as a model with learning-or-doing are special cases of this framework, and compare their implications for the efficient tax structure. I show that in both models the optimal marginal tax rates decrease with age, despite the fact that both models respond differently to any given tax change. We are looking forward to seeing you! Institute for Advanced Studies Department of Economics and Finance Josefstädter Straße 39, 1080 Vienna, Austria Tel.: +43 1 599 91 145 e-Mail: economics@ihs.ac.at http://economics.ihs.ac.at		LINKS DIRECTIONS TO IHS on Google maps VIENNA JOINT ECONOMICS SEMINAR on Google calendar ECONOMICS SEMINARS IN VIENNA on Google calendar
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