宏观经济学workshop(十一）

时间：12月5日10:00-11:30
地点：致福轩教室
标题：The Gap between the Social and Private Returns to Schooling from
the Informational Asymmetry Perspective

演讲嘉宾：赵洪春

主持：赵波、王敏

文章摘要：

A significant finding in development economics is that for the postwar data there is almost no statistical correlation between changes in aggregate human capital per capita and changes in output per capita.Some countries have experienced rapid economic growth and rapid progress in education simultaneously; while in other countries economic performances are poor, though education improves too. This observation is inconsistent with the fact in empirical microeconomic research that there is statistically strong correlation between schooling years and the logarithm of wages. Figuring out the underlying causes of this phenomenon means a lot for the human resources development policies in developing countries. Based on the fact that education improves productivity as well as signaling abilities of workers, this paper presents a general equilibrium model based on informational asymmetry and heterogeneity to account for the phenomenon, and evaluates its fitness to data and its policy implications.

发展经济学中的一个重要的研究发现是：二战后，加总后的教育资本的变化与产出的变化之间几乎不存在统计相关性。有些国家经济高速发展，教育同时进步；有些国家虽然教育提高很快，但是经济表现却差强人意。这与微观经验研究发现的教育水平与工资收入的对数存在显著的统计相关性这一事实似乎不相吻合。该现象指向了贫穷国家人力资本投资可能过度。发现这个现象背后的深层原因对发展中国家制定人力资源发展政策有着基础性意义。以教育同时具有提高劳动生产率和能发出有关劳动者能力的信号双重作用为基础，本文构建了一个基于不对称信息和异质性的一般均衡模型来解释这个现象，并评估了该模型的解释能力和相应的政策含义

嘉宾简介：

Zhao, Hongchun is a macro economist who studies economic growth and broadly-defined human capital. His research has been published in a number of peer-reviewed journals. He is an adviser to DES Economics. He is a columnist for “Bystanders”, which is a professional blog affiliated to Caixin, and wrote essays for the FT Chinese and Economic Herald. He previously served on the faculty of the Huazhong University of Science and Technology.