首页﹀
【3.26讲座】Shengxing Zhang: Intangibles, Inequality and Stagnation
2018-03-23
NSE Seminar
Intangibles, Inequality and Stagnation
Time: 10:30am -12:00pm, Mar 26, 2018
Venue: Room 359S, Overseas Exchange Center, Peking University
Speaker: Shengxing Zhang (Assistant Professor in Economics at London School of Economics and Political Science)
【Abstract】
We examine how aggregate output and income distribution interact with accumulation of intangible capital over time and across individuals. We consider an overlapping generations economy in which managerial skill (intangible capital) is essential for production, and it is acquired by young workers through on-the-job training by old managers. We show that, when young trainees are not committed to staying in the same firms and repaying their debt, a small difference in initial endowment and ability of young workers leads to a large inequality in accumulation of intangibles and life time income. A negative shock to endowment or the degree of commitment generates a persistent stagnation and a rise in inequality.
【Speaker】
Shengxing Zhang is an Assistant Professor in Economics at London School of Economics and Political Science. His research interests are in macroeconomics, with emphasis on monetary and financial economics. Shengxing's research has been published in Review of Economic Studies, Journal of Economic Theory and European Economic Review. Shengxing received his PhD in Economics from New York University in 2014.