Alberto Alesina is the Nathaniel Ropes Professor of Political Economics and the Taussig Research Professor of Economics at Harvard University. He is a leader in the field of economics and has published extensively in all major academic journals in economics. His work has covered a variety of topics, including political business cycles, integration, stabilization policies in high inflation countries, and differences in the welfare state in the U.S. and Europe.

Professor Alesina is associate editor of the Journal of Economic Growth. His most recent books are The Future of Europe: Reform and Decline, published by MIT Press in 2006, and Fighting Poverty in the U.S. and Europe: A World of Difference, published by Oxford University Press in 2004.

Abstract of Alberto Alesina's "Technology and Labor Regulations":

Many low skilled jobs have been substituted away for machines in Europe, or eliminated, much more so than in the U.S., while technological progress at the "top," i.e. at the high-tech sector, is faster in the U.S. than in Europe. This paper suggests that the main difference between Europe and the U.S. in this respect is their different labor market policies. European countries reduce wage flexibility and inequality through a host of labor market regulations, like binding minimum wage laws, permanent unemployment subsidies, firing costs, etc. Such policies create incentives to develop and adopt labor saving capital intensive technologies at the low end of the skill distribution. At the same time technical progress in the U.S. is more skill biased than in Europe, since American skilled wages are higher.

Sponsored by the Forum on Contemporary Europe and the Political Economics group at the Graduate School of Business.