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Local Labor Markets and Human Capital Investments

December 5, 2017 @ 12:00 pm - 1:00 pm

Speaker: Russell Weinstein

This paper studies whether human capital investments are based on local rather than national demand, using three shocks with differential local effects: the dot-com crash, the 2008 financial crisis, and the shock making Delaware a financial headquarters. Event-study analyses show universities more exposed to sectoral shocks experience greater changes in sector-relevant majors. Using students’ home and university locations and nearest-neighbor matching, this paper develops a test for whether information frictions explain this local elasticity, separately from migration frictions. Information frictions do not appear to explain the result. Findings are consistent with migration frictions, implying encouraging investments based on national demand may increase mismatch.

This lecture will take place in Room 333 of the Education building.

Details

Date:
December 5, 2017
Time:
12:00 pm - 1:00 pm

Organizer

Education at Illinois
Website:
//www.facebook.com/educationatillinois/

Venue

Education at Illinois
1310 S 6th St
Champaign, IL 61820 US
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