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UID:ef6b83c21403077aaf9a3b31c4bf49ff
CATEGORIES:Seminars
CREATED:20250729T112106
SUMMARY:Lunch Seminar: Tarek A. Hassan  - Boston University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:New Technologies and the College Premium\nAbstract:\nThis paper shows that 
 the pace of technology creation is a key driver of wage inequality. It deve
 lops a model where college-educated workers learn how to use new technologi
 es faster than others, and where this advantage dissipates over time as tec
 hnologies become standardized and easier to use. In equilibrium, the colleg
 e wage premium is determined by the interplay between the pace of technolog
 y creation and standardization. A heightened pace of technology creation ca
 uses a long-lasting increase in the college premium. We calibrate the model
  using novel text-based data on new technologies and their changing demand 
 for skills as they age. These data show that new technologies initially req
 uire more college-educated workers but see a reversal as they age. The data
  also point to an increased rate of new technology creation starting in the
  1980s and tapering off in the 2000s. In response to this measured accelera
 tion in the pace of technology creation, the model generates a 25 log point
  increase in the college premium that begins to revert in the 2010s. In ext
 ensions, we allow new technologies to diffuse from dense to lower-density c
 ities, and younger workers to have a comparative advantage in new technolog
 ies. These extensions explain why the college premium is generally higher i
 n dense cities, why its increase was mainly an urban phenomenon, and why it
  had a marked age pattern, rising first for young workers and then for olde
 r workers.\n
DTSTAMP:20260415T001333Z
DTSTART:20251028T130000Z
DTEND:20251028T140000Z
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