Sure! Here’s the translation to American English:
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CUNEF University was the venue for a seminar led by David Card, the esteemed economist who received the Nobel Prize in Economics in 2021. At this event, held in the Grand Hall of the Almansa Campus, Card presented his research titled “Intergenerational Mobility in Income: The Role of Neighborhoods and Firms,” in which he addressed the income gap between Caucasian and African American populations in the United States.
During his presentation, Card explained that around 50% of the wage differences between children of Caucasian and African American families can be attributed to their parents’ income. He also pointed out that the neighborhood where these families reside contributes an additional 15% to this inequality. This suggests that the future wages of young people are significantly influenced by the average income of their neighborhood, illustrating how the socioeconomic situation and demographic diversity of an area can affect employment opportunities.
The study also indicated that African American families tend to live in lower-income neighborhoods with a higher concentration of their community, creating a compensatory effect. Card stated that “neighborhood quality is related to parents’ income and racial background,” emphasizing that one of the reasons African American children face lower incomes throughout their lives is due to growing up in less advantaged environments. He also stressed that in cities with high levels of segregation and discrimination, income gaps are even more pronounced, reflecting structural issues that limit opportunities.
The economist also discussed the transfer of advantages or disadvantages across generations, opening the debate on the role of gender as an area that deserves deeper analysis, which could be a fruitful avenue for future research.
David Card’s prestige in the field of economics has been solidified by his significant empirical contributions to labor economics, making him an inspiring and relevant figure in the academic realm. Attendance at the seminar was diverse, with professors, students, and researchers present, further reaffirming CUNEF University’s commitment to academic excellence and the dissemination of knowledge.
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Let me know if you need anything else!
Source: MiMub in Spanish
