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【4.9讲座】王城：On the Pure Theory of Wage Dispersion
2018-04-04
On the Pure Theory of Wage Dispersion
Time: 10:30am -12:00pm, Apr 9, 2018
Venue: Room 359S, Overseas Exchange Center, Peking University
Speaker: Cheng Wang (School of Economics, Fudan University)
【Abstract】
We study an equilibrium model of the labor market with identical firms and homogeneous workers, and with search and on-the-job search. Jobs are dynamic contracts that allow firms to match the worker's outside offers or let the job be terminated. For a non-degenerate distribution of wage offers to arise in the environment, it is necessary and sufficient that there be a positive cost of job turnover, in terminating an existing job, or in posting a new one; and there is limited counteroffering to the worker's outside offers. The model is calibrated to the U.S. labor market to produce a wage offer distribution that resembles observations, together with a distribution in the wages earned that is consistent with data. The model also suggests that policies that impose larger costs on hiring and termination reduce wage dispersion and the mean wage offered, whereas technologies that facilitate job matching and posting increase them.
【Speaker】
王城，国家特聘专家，复旦大学姚祖辉特聘教授。1984年复旦大学数学系本科毕业，1994年获加拿大西安大略大学经济学博士学位。曾任美国卡内基梅隆大学（Carnegie Mellon University）商学院助理教授和副教授，爱荷华州立大学（Iowa State University）经济学副教授和教授。过去二十多年致力于宏观经济学与动态合约理论的研究，研究课题涵盖宏观金融、劳动力市场理论与政策、失业保险、经理人薪酬、动态合约基础理论等领域。研究成果在 American Economic Review, Review of Economic Studies, Journal of Economic Theory, Journal of Monetary Economics, International Economic Review, Review of Economic Dynamics等经济学期刊发表。作为动态合约理论比较早的研究者之一，其研究工作对这一经济学重要文献的发展及其在宏观经济学中的应用作出了贡献。他的最新研究兴趣是动态经济关系的最优终止问题及其在劳动力及金融市场模型中的应用。