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What is the cost of retaining and attracting exceptional talents? Evidence from the Canada Research Chair program

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  • Pascal Courty

    ()
    (University of Victoria)

  • John Sim

    ()
    (Queen's University)

Abstract

The compensation of a professor who is awarded an internal Canada Research Chair (CRC) increases by 6.3 percent on average in our sample. This gain is large initially but quickly erodes over CRC tenure. The gain is slightly larger for professors who change university to obtain a CRC Chair. Assuming that the CRC program has achieved its goal of attracting and retaining top talents, we infer that the compensation cost of doing so is modest. In addition, only a small fraction of the CRC grants have been passed through to professors as compensation increases. This is despite the fact that universities report spending more than half of the CRC grants on chairholder compensation.

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File URL: http://qed.econ.queensu.ca/working_papers/papers/qed_wp_1294.pdf
File Function: First version 2012
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Bibliographic Info

Paper provided by Queen's University, Department of Economics in its series Working Papers with number 1294.

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Length: 35 pages
Date of creation: Feb 2012
Date of revision:
Handle: RePEc:qed:wpaper:1294

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Keywords: Compensation; Brain Drain; Crowding Out; Canada Research Chair;

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  1. Ehrenberg, R.G.Ronald G., 2004. "Econometric studies of higher education," Journal of Econometrics, Elsevier, vol. 121(1-2), pages 19-37.
  2. John Gibson & David McKenzie, 2011. "Eight Questions about Brain Drain," Journal of Economic Perspectives, American Economic Association, vol. 25(3), pages 107-28, Summer.
  3. Ronald G. Ehrenberg & Michael J. Rizzo & George H. Jakubson, 2003. "Who Bears the Growing Cost of Science at Universities?," NBER Working Papers 9627, National Bureau of Economic Research, Inc.
  4. Catherine Haeck & Frank Verboven, 2012. "The Internal Economics of a University: Evidence from Personnel Data," Journal of Labor Economics, University of Chicago Press, vol. 30(3), pages 591 - 626.
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