时间：9月30日 周三 10：00-11：30

地点：北大国发院万众楼一层大教室

主持人：（国发院）赵耀辉、李玲、刘国恩、雷晓燕、张丹丹

                 （经院）秦雪征、王耀璟、袁野

主讲人：施新政（清华大学经济管理学院经济系副教授）

题目：How does improvement in commuting affect employees? Evidence from a natural experiment

报告摘要:

We collect rich worker month-level administrative panel data from two companies for a two-year period prior to and after the opening of a nearby subway station, which significantly improved public transportation commutes for a subset of workers. Consistent with a simple principal-agent model where improvement in commute reduces the cost of effort for workers, we find a significant difference-in-differences (DID) increase (12.6% of the standard deviation) in bonus pay (which is strongly correlated to worker-level performance measures) for affected workers relative to coworkers not impacted by the subway. The bonus increase is larger for workers with more variance in performance measures (marketing personnel and non-managers), is positively correlated with commute time saved, and lower for workers with access to technology that facilitated telecommuting. We do not find that improved performance is simply a result of affected workers spending extra time at the workplace. Additionally, we find a significant relative decline in monthly exit hazard (by about 50%) for affected workers, and evidence for higher quality (conditional on wages) of new hires from affected areas. Supplementary event study analysis using a large sample of subway construction commencements suggests that shareholder value is also positively impacted by access to a nearby subway.

主讲人简介：

施新政，清华大学经济管理学院经济系副教授，2003年硕士毕业于北京大学中国经济研究中心（现为国家发展研究院），获经济学硕士学位，2009年博士毕业于美国密歇根大学，获经济学博士学位。他的研究方向为劳动经济学，发展经济学以及公共经济学，研究兴趣包括人力资本，家庭内部资源配置，企业行为等。