Browsing by Author "Aghion, Philippe"

Filter results by typing the first few letters
Now showing 1 - 2 of 2
  • 2022 Klein Lecture Parental Education and Invention : The Finnish Enigma
    (2023-05) Aghion, Philippe; Akcigit, Ufuk; Hyytinen, Ari; Toivanen, Otto
     A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä
    Why is invention strongly positively correlated with parental income not only in the United States but also in Finland, which displays low income inequality and high social mobility? Using data on 1.45 M Finnish individuals and their parents, we find the following: (i) the positive association between parental income and off-spring probability of inventing is greatly reduced when controlling for parental education; (ii) instrumenting for the parents having an MSc degree using distance to nearest university reveals a large causal effect of parental education on offspring probability of inventing; and (iii) the causal effect of parental education has been markedly weakened by the introduction in the early 1970s of a comprehensive schooling reform.
  • A Year Older, A Year Wiser (And Farther From Frontier) : Invention Rents And Human Capital Depreciation
    (2024-07-08) Aghion, Philippe; Akcigit, Ufuk; Hyytinen, Ari; Toivanen, Otto
     A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä
    We look at how the arrival of an invention affects wage returns and the probability of moving out of employment for white-and blue-collar co-workers of the inventor. First results suggest that older workers are hurt by the arrival of an invention. This negative effect disappears when we control for education and, in particular, for the time since obtaining the last formal degree, that is, distance to human capital frontier. If anything, this effect is slightly higher for non-STEM than STEM-educated co-workers. This result suggests that retraining programs could be helpful in making the process of creative destruction and economic growth more inclusive.