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2011年3月15号 Seminar--林树明 博士
发布时间：2011-03-01
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主题：Measuring the Impact of Immigration Policy on Employers and Shareholders
主讲人：林树明 博士
主持人：经济与工商管理学院副院长 杨澄宇教授
时间：2011年3月15号下午2点--3点
地点：北师大后主楼1722
Abstract
This paper links finance theory to labor economics (particularly in migration) and political economy (immigration policy). Most research treating the impact of immigration has focused on the consequences for employees as measured by wages, earnings, and employment. Less is known about the impact on employers. We lack answers to basic questions concerning the quantitative impact of immigrants on employer profit and which employers are most likely to gain (suffer) increased (reduced) profits as a result of immigration.
Using event study analysis, I measure the impact of immigration policy on the welfare of employers and shareholders, particularly in those industries which hire large numbers of skilled immigrants. The American Competitiveness and Workforce Improvement Act (ACWIA) of 1998 nearly doubled the available number of H-1B visas for skilled foreign workers. I focus on this bill and analyze whether and by how much it increased shareholders’ profit.
The empirical results show that employers and shareholders in the top H-1B user industries enjoyed significant and positive excess returns with the passage of the ACWIA of 1998. Industries with little need for H-1B visas experienced no significant changes in excess returns. Robustness testing including international factor comparisons, semiparametric modeling and a sample-split Chow structural break test support the findings.
主讲人介绍
林树明，毕业于台湾大学经济学系，美国华府乔治城大学(Georgetown University)经济学硕士及美国新泽西州罗格斯大学(Rutgers University)经济学博士(May, 2011 expected)。专长为劳动经济学、财务经济学及应用计量经济学。自2007年起在罗格斯大学担任讲师，讲授初级宏观经济学、货币银行学及劳动经济学，并于09年5月获得罗格斯大学颁授杰出教学奖 (Sydney
Simon Outstanding Teaching Award)。在研究方面，论文”Essays on High-skilled and Low-skilled Migration”于2010年5月获得罗格斯大学最优等研究奖(Peter Asch Memorial Prize)，目前有著作发表于Handbook of Quantitative Finance and Risk Management, New York: Springer‐Verlag, June, 2010.