Capital-Skill Complementarity and Wage Outcomes Following Technical Change in a Global Model

We estimate the extent of factor bias in technical changes consistent with observed changes in skill premia. To control for the effects of expanded trade on wages we use a structural model with multiple regions and comparative static analysis. Two alternative biased technical-change stories emerge: skill enhancement when capital and skill are substitutes and capital enhancement when capital and skill are complements. These imply different underlying technical-change processes and macroeconomic behaviour in response to technical-change shocks. Capital enhancement offers the more credible process, however, and is consistent with observed rises in the 'equipment content' of the capital stock

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Year of publication:	2001
Authors:	Tyers, Rodney ; Yang, Yongzheng
Publisher:	[S.l.] : SSRN
Subject:	Technischer Fortschritt \| Technological change \| Theorie \| Theory \| Qualifikation \| Occupational qualification \| Lohnstruktur \| Wage structure \| Wirtschaftsmodell \| Economic model
Description of contents:	Abstract [papers.ssrn.com]

Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Oxford Review of Economic Policy, Vol. 16 No. 3, Autumn 2000 Volltext nicht verfügbar
Classification:	D24 - Production; Capital and Total Factor Productivity; Capacity ; D33 - Factor Income Distribution ; D58 - Computable and Other Applied General Equilibrium Models ; F11 - Neoclassical Models of Trade ; J31 - Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc ; O33 - Technological Change: Choices and Consequences; Diffusion Processes ; O57 - Comparative Studies of Countries
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014139556