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S. C. Tsiang Macroeconomics Workshop: Kyle Herkenhoff

Thursday, December 6, 2018 at 11:40am to 1:10pm

Uris Hall, 498

Kyle Herkenhoff - University of Minnesota

Production and Learning in Teams (joint w/Jeremy Lise, Guido Menzio & Gordon Phillips)

Abstract:  The effect of coworkers on the learning and the productivity of an individual is measured combining theory and data. The theory is a frictional equilibrium model of the labor market in which production and the accumulation of human capital of an individual are allowed to depend on the human capital of coworkers. The data is a matched employer-employee dataset of US firms and workers. The measured production function is supermodular. The measured human capital function is non-linear: Workers catch-up to more knowledgeable coworkers, but are not dragged-down by less knowledgeable ones. The market equilibrium features a pattern of sorting of coworkers across teams that is inefficiently positive. This inefficiency results in low human capital individuals having too few chances to learn from more knowledgeable coworkers and, in turn, in a stock of human capital and a flow of output that are inefficiently low. 

 

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Event Type

Class/ Workshop

Departments

Economics

Tags

economics, EconSeminar, EconMacro

Hashtag

#CornellEcon

Contact E-Mail

alg5@cornell.edu

Contact Name

Amy Moesch

Contact Phone

607-255-5617

Speaker

Kyle Herkenhoff

Speaker Affiliation

University of Minnesota

Open To

Cornell Economics Community (List Serve Members)