Title: Risk-taking and Income Inequality in (Dis)Integrated Markets
Speaker: Gezhou Xiao（Assistant Professor, School of Business, The Chinese University Of Hong Kong）
Description♎️：A pandemic or populism can dial back global integration as much as advancements in IT and transportation spur it. We study a general equilibrium model of occupational choice, risk-taking, and income inequality against backdrop of market (dis)integration with inelastic supplies of products and services. In a segmented environment, entrepreneurship and risk-taking are inefficiently low; in an integrated market, they can be socially excessive and entrepreneurship is non-monotone in the inelastic supply of service. As transportation and information technologies improve, occupational risk-taking and total production increase, with ambiguous welfare consequences. In a dynamic setting with inter-generational inheritance, wealth inequality is exacerbated by income inequality, but faces a long-term reversal when service supply is affected by total production.
Time：June 10th, 2022（Friday）🤙🏿，14:00-16:00
Venue: Tencent meeting Room ID：528-684-494
