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The Allocation of Talent and U.S. Economic Growth
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This article measured the macroeconomic consequences of this convergence through the prism of a Roy model of occupational choice in which women and blacks face frictions in the labor market and in the accumulation of human capital.Abstract:
Over the last 50 years, there has been a remarkable convergence in the occupational distribution between white men, women, and blacks. We measure the macroeconomic consequences of this convergence through the prism of a Roy model of occupational choice in which women and blacks face frictions in the labor market and in the accumulation of human capital. The changing frictions implied by the observed occupational convergence account for 15 to 20 percent of growth in aggregate output per worker since 1960.read more
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The Causes and Costs of Misallocation
Diego Restuccia,Richard Rogerson +1 more
TL;DR: In this paper, the authors provide a perspective on three key questions: how important is misallocation, what are the causes of misallocating, and beyond the direct cost of lower contemporaneous output, are there additional costs associated with misallocations.
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Trade, Migration, and Productivity: A Quantitative Analysis of China
Trevor Tombe,Xiaodong Zhu +1 more
TL;DR: This article studied how misallocation due to goods-and labour-market frictions affect aggregate productivity in China and quantified the magnitude and consequences of trade and migration costs, and showed that the costs were high in 2000, but declined afterward.
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Why Has Regional Income Convergence in the U.S. Declined
Peter Ganong,Daniel Shoag +1 more
TL;DR: This article developed a model in which rising housing prices in high-income areas deter low-skill migration and slow income convergence using a new panel measure of housing supply regulations, demonstrating the importance of this channel in the data.
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Technology, Geography, and Trade
Jonathan Eaton,Samuel Kortum +1 more
TL;DR: This article developed a Ricardian trade model that incorporates realistic geographic features into general equilibrium and delivered simple structural equations for bilateral trade with parameters relating to absolute advantage, comparative advantage, and geographic barriers.
Posted Content
The Statistical Theory of Racism and Sexism.
TL;DR: The theory of racial and sexual discrimination in the labor market was first introduced by Arrow as mentioned in this paper, who introduced the Inflation Policy and Unemployment Theory (INPT) and introduced the first formalization of the theory in terms of exact statistical models.
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