page_title: Michael Keane (economist)
section_title: Human capital and labor supply
hierarchical_section_title: Michael Keane (economist) / Contributions / Human capital and labor supply
caption_attribution_description: English: Mike Keane at BFI
context_page_description: Michael Patrick Keane is an American/Australian economist who is currently professor of economics and Australian Research Council laureate fellow at the University of New South Wales. From 2012 to 2017 he was the Nuffield Professor of Economics at the University of Oxford and a professorial fellow of Nuffield College. He is considered one of the world's leading experts in the fields of Choice Modelling, structural modelling, simulation estimation, and panel data econometrics.
  He is also one of the world's leading economists by many measures of research productivity. Keane works in numerous areas including labor economics, econometrics, consumer demand models, marketing, industrial organization, health economics, and trade.
  He is currently a chief investigator of the Australian Research Council Centre of Excellence in Population Ageing Research. From 2006–10 he was Co-Director of the Centre for the Study of Choice at UTS. Keane became a dual citizen of Australia in 2010.
context_section_description: In recent years, Keane has argued persuasively that, due to human capital effects, labor supply elasticities are much larger than the previous consensus of the economics profession would suggest. These views are presented in Imai and Keane (2004), Keane (2010) and Keane and Rogerson (2012).  If correct, his views imply that welfare losses from income taxation are much higher than was previously thought. Recently, Keane gave a keynote lecture summarizing this work at the 2015 annual meeting of the Royal Economic Society. His Cowles lecture at the 2011 summer meeting of the Econometric Society also dealt with this topic.
caption: Michael Keane at the Becker-Friedman Institute, 2013
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