Human Capital Misallocation and Output per Worker Differences: Beyond Cobb-Douglas.

Autor/inn/en	Trenczek, Jan; Wacker, Konstantin M.
Institution	Global Labor Organization
Titel	Human Capital Misallocation and Output per Worker Differences: Beyond Cobb-Douglas. Gefälligkeitsübersetzung: Fehlallokation von Humankapital und Unterschiede in der Produktion pro Arbeitskraft: Jenseits von Cobb-Douglas.
Quelle	Essen (2023), 54 S. PDF als Volltext kostenfreie Datei Link als defekt meldenVerfügbarkeit
Reihe	GLO discussion paper / Global Labor Organization. 1331
Sprache	englisch
Dokumenttyp	online; Monographie
Schlagwörter	Substitution; Humankapital; Allokation; Mismatch; Produktionsfaktor; Produktionsfunktion; Produktivitätseffekt; Internationaler Vergleich; Arbeitspapier; Auswirkung; Effizienz; Sektorale Verteilung; Welt
Abstract	"Misallocation of human capital across sectors can have substantial negative implications for aggregate output. So far, the literature examining this type of labor misallocation has assumed a Cobb-Douglas production function. Our paper departs from this assumption and instead considers more exible CES production functions with different labor skill types as individual inputs. Our estimates from sectoral data of 39 countries suggest that physical and human capital are less substitutable than Cobb-Douglas assumes. Our counterfactual results indicate that human capital misallocation can explain approximately 15% of output per worker variation across countries, which is substantially less than under a Cobb-Douglas specification (21%)." The study refers to the period 1995-2007. (Author's abstract, IAB-Doku)..
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2024/1