Showing 1 - 10 of 1,152
Persistent link: https://www.econbiz.de/10013423936
Persistent link: https://www.econbiz.de/10013422922
Persistent link: https://www.econbiz.de/10013423210
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/10010315895
Returns to scale to capital and the strength of capital externalities play a key role for the empirical predictions and policy implications of different growth theories. We show that both can be identified with individual wage data and implement our approach at the city-level using US Census...
Persistent link: https://www.econbiz.de/10005497888
We combine growth theory with US Census data on individual schooling and wages to estimate the aggregate return to human capital and human capital externalities in cities. Our estimates imply that a one-year increase in average schooling in cities increases their aggregate labor productivity by...
Persistent link: https://www.econbiz.de/10005771953
Returns to scale to capital and the strength of capital externalities play a key role for the empirical predictions and policy implications of different growth theories. We show that both can be identified with individual wage data and implement our approach at the city-level using US Census...
Persistent link: https://www.econbiz.de/10005772301
We estimate the aggregate long-run elasticity of substitution between more and less educated workers (the slope of the demand curve for more relative to less educated workers) at the US state level. Our data come from the (five)1950-1990 decennial censuses. Our empirical approach allows for...
Persistent link: https://www.econbiz.de/10005772331
The identification of aggregate human capital externalities is still not fully understood. The existing (Mincerian) approach confounds positive externalities with wage changes due to a downward sloping demand curve for human capital. As a result, it yields positive externalities even when wages...
Persistent link: https://www.econbiz.de/10005772550
We estimate the aggregate long-run elasticity of substitution between more educated workers and less educated workers (the slope of the inverse demand curve for more relative to less educated workers) at the U.S. state level. Our data come from the (five) 1950-1990 decennial censuses. Our...
Persistent link: https://www.econbiz.de/10005740329