Dear all,

We kindly invite you to our next ECON Theory and Policy Seminar talk on

Thursday, May 11, 2023 from 5:00 – 6:30 pm (Seminarroom DB04 yellow, Freihaus Building, yellow area, 4th floor)

Technological changes and the labor market - A general equilibrium model with multidimensional skills

Zsófia L. Bárány https://sites.google.com/site/zsofiabarany/
(joint work with Moshe Buchinsky and Tamás K. Papp)

In this paper we develop and estimate a multi-sector general equilibrium growth model of education and sector-occupation choices over the life cycle. The model incorporates the task-based approach by representing jobs in different sector-occupation pairs as different bundles of tasks, requiring specific skillsets of workers. Workers are born with heterogeneous endowments of skills thatcan be improved over time by schooling and on-the-job accumulation of human capital. They supply their entire bundle of skills to a single job according toa Roy-type sorting model where their selections are along the multi-dimensional vector of skills that they possess. We use data from several U.S. sources thatallow us to estimate parameters that correspond to both the decision process of the individuals as well as the parameters that correspond to the production side of the economy. The general equilibrium nature of the model allows us to conduct several policy counterfactuals that take full account of the responses in the economy.

Further events: https://www.econ.tuwien.ac.at/index.html#events

Best regards,

Julia Hutter

for Alexia Fürnkranz-Prskawetz

Julia Hutter

TU Wien

Institute of Statistics and Mathematical Methods in Economics

Economics E105-3

Phone: +43-1-58801x10531

E-Mail: julia.hutter@tuwien.ac.at