Tous les séminaires
Jeudi 8 Décembre 2011
Chryssi GIANNITSAROU (University of Cambridge, UK) présentera une communication :
"Network Structure and Human Capital Dynamics"
avec Tiago V V. CAVALCANTI
de 14 h à 15 h 30 en Salle S016 à l'INSEE-CREST, 15 Boulevard Gabriel Péri, 92245 MALAKOFF (Métro : Malakoff/Plateau de Vanves (Immeuble "Malakoff 2)).
We study how network structure affects the dynamics of human capital, growth and inequality. We do this by explicitly embedding networks into an otherwise standard endogenous growth model with overlapping generations, in which human capital depends on four factors, namely (i) investment in education, (ii) inter-generational transmission, (iii) a global externality and (iv) a local externality that is determined by the network structure. We show that if the population is heterogeneous initially, then there exists a balanced growth path with no inequality and its local stability depends on the network at hand, summarized by a measure of network cohesion. As network cohesion increases, the parameter region for which the balanced growth path is stable becomes larger; i.e. it becomes more likely that society will converge to a path of long run equality. We also find that during the transition, growth is high and inequality is low when regions with the highest initial human capital are located at central nodes of the network. As an illustration, we use school and income data from six Swiss cantons and show that our model, which explicitly takes into account the network structure of a canton, performs better at explaining income data than one that does not..