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Human Capital and Structural Transformation


Time: 10:00 am-11:30 am, June 2nd, 2023

Speaker: Terry Cheung

(Institute of Economics, Academia Sinica)

Venue: 359s, Overseas Exchange Center, Peking University

Platform: Zoom

Link: https://zoom.us/j/96990174936?pwd=ejhZazZqRFZLa2duWXlXZ3B2K2ludz09

Meeting ID: 969 9017 4936

Passcode: inse



This paper argues that public education policies, which affect schooling years and education quality, are important to understand sectoral employment. We build a multi-sector general equilibrium heterogeneous-agent life-cycle model, which features both education investment, in terms of schooling years and expenditure, and sectoral employment choices. Disciplining the stock of human capital using schooling years and return of education data, we perform counterfactual experiments and show that eliminating public education policies would increase agricultural employment by 35% while endowing a developing country with U.S. public education policies would reduce the agricultural employment by 21% and the cross-country income difference by 29%.





Terry Cheung is an assistant research fellow in the Institute of Economics at Academia Sinica. His research interests are general economics, economic development, technological change and growth, population economics and economic history. His work has been published in American Economic Journal: Macroeconomics. He obtained his Ph.D. in economics from Washington University in 2018.