A theory of factor allocation and plant size

In this paper we develop a theory of how factors interact at the plant level. The theory has implications for (1) the micro foundations for capital-skill complementarity, (2) the relationship between factor allocation and plant size, and (3) the effects of trade and growth on the skill premium. The theory is consistent with certain facts about factor allocation and factor price changes in the 19th and 20th centuries.

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Year of publication:	2003
Authors:	Holmes, Thomas J. ; Mitchell, Matthew F.
Institutions:	Federal Reserve Bank of Minneapolis
Subject:	Human capital \| Labor supply

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Extent:	application/pdf
Series:	Staff Report.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in RAND Journal of Economics Number 325
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005712350