Tehran Institute for Advanced Studies (TEIAS)

/ Sudden Liberalization and the Baby Boom of Managers


Sudden Liberalization and the Baby Boom of Managers (joint with Krisztina Orban)

May 31, 2023
(10 Khordad, 1402)



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Miklos Koren

Central European University


Good management practices are important determinants of firm success. Better managed firms are larger and more productive, and management interventions lead to sizeable and persistent positive effects on firm performance. It is unclear, however, to what extent aggregate outcomes are shaped by good management. We build an overlapping generations model of managers to study the demand and supply of good management and the competition between managers of heterogeneous skills. We use data on the universe of corporations and their top managers in Hungary between 1985 and 2019 to study the rapid liberalization of the 1990s through the lens of our model. We use the model to evaluate hypothetical policies aiming to improve aggregate productivity through management education and corporate liberalization. Our results suggest that the inelastic supply of good managers is an important constraint to the success of management interventions.


Miklos Koren is a professor of economics at CEU. He is the founder of the Business Analytics MSc program and the CEU MicroData research group. His research focuses on international trade and economic development. He publishes regularly in leading international academic journals, and he has participated in numerous international research projects, including a large-scale Starting Grant of the European Research Council. He is a recipient of the Peter Kenen Fellowship and the Nicholas K√°ldor Prize. Professor Koren received his Ph.D. from Harvard University in 2005. He also holds an M.A. from Central European University (2000) and a B.A. from Corvinus University Budapest (1999). Before coming to CEU, he worked at the Federal Reserve Bank of New York and at Princeton University.