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Skills substitutability and technological progress : U.S. states 1950-1990

Ciccone, Antonio; Peri, Giovanni - 2003

In this article we estimate the long-run aggregate elasticity of substitution between skilled and unskilled workers. This is an important parameter as it allows us to compute the skill biased technological progress (SBTP) from the evolution of relative wages. However, it is hard to estimate...

Persistent link: https://www.econbiz.de/10011509429

Explaining the decline in the US labor share : taxation and automation

Heer, Burkhard; Irmen, Andreas; Süssmuth, Bernd - 2022

This study provides evidence for the US that the secular decline in the labor share is not only explained by technical change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth. First, we empirically find indications of...

Persistent link: https://www.econbiz.de/10013206154

Understanding the estimation of oil demand and oil supply elasticities

Kilian, Lutz - 2020

This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand elasticities and of incorporating this information into structural VAR models. I not only summarize the state of the literature, but also draw attention to a number of econometric...

Persistent link: https://www.econbiz.de/10012288032

Who pays for the tariffs and why? : a tale of two countries

Feng, Chaonan; Han, Liyan; Li, Lei - 2023

During the U.S.-China trade war, the U.S. punitive tariffs were almost entirely borne by U.S. importers. In contrast, only 68% of China's retaliatory tariffs were paid by Chinese importers. The puzzling difference between the U.S. and China is mainly driven by their different import structures...

Persistent link: https://www.econbiz.de/10014293293

Time variation in lifecycle consumption and income

Aksoy, Yunus; Basso, Henrique S.; St. Aubyn, Carolyn - 2020

We document systematic and significant time variation in US lifecycle non-durable consumption profiles. Consumption … profiles have consistently become flatter: differences in consumption across generations have decreased. Pooling data across …-shaped consumption age profiles. The main driver behind lifecycle consumption variations are lifecycle income changes, which display …

Persistent link: https://www.econbiz.de/10012177052

Labour market rigidities, financial integration and international risk sharing in the OECD

Fidrmuc, Jarko (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003498778

Firm and establishment volatility : the role of sunk costs, profit uncertainty and technological change

Ghosal, Vivek - 2003

The degree of endemic volatility in the number of firms and establishments varies considerably across industries. Examining the within-industry range of variation (max.-min.) of the number of firms over our sample period, the low and high values across U.S. manufacturing industries are 4 and...

Persistent link: https://www.econbiz.de/10011508062

Real and monetary challenges to wage policy in Germany at the turn of the millennium : technical progress, globalization and European monetary union

Franz, Wolfgang - 1999

At the turn of the millennium three frequently cited potential causes of new challenges for wage p olicy in Germany are revisited in this study: skilled-biased technological progress, the increasing international integration of labor and product markets, and the monetary integration of the EMU....

Persistent link: https://www.econbiz.de/10009781695

Skill premiums and the supply of young workers in Germany

Glitz, Albrecht; Wissmann, Daniel - 2017

In this paper, we study the development and underlying drivers of skill premiums in Germany between 1980 and 2008. We show that the significant increase in the medium to low skill wage premiums since the late 1980s was almost exclusively concentrated among the group of workers aged 30 or below....

Persistent link: https://www.econbiz.de/10011688036

The German productivity paradox : facts and explanations

Elstner, Steffen; Feld, Lars P.; Schmidt, Christoph M. - 2018

Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth. This paper analyzes the reasons behind this disconcerting development. A major factor is the turnaround of the labor market that commenced around 2005. The successful...

Persistent link: https://www.econbiz.de/10011900858

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