Wages, Skills, and Skill-Biased Technical Change. The Canonical Model Revisited.

Autor/inn/en	Bowlus, Audra; Lochner, Lance; Robinson, Chris; Suleymanoglu, Eda
Titel	Wages, Skills, and Skill-Biased Technical Change. The Canonical Model Revisited. Gefälligkeitsübersetzung: Löhne, Qualifikationen und "Skill Biased Technical Change".
Quelle	In: Journal of human resources, 58 (2023) 6, S. 1783-1819 PDF als Volltext Link als defekt meldenVerfügbarkeit
Sprache	englisch
Dokumenttyp	online; gedruckt; Zeitschriftenaufsatz
ISSN	0022-166X; 1548-8004
DOI	10.3368/jhr.0617-8889r1
Schlagwörter	Lebensalter; Bildungsertrag; Technologische Entwicklung; Beschäftigungseffekt; Lohnentwicklung; Niedrig Qualifizierter; Qualifikation; Auswirkung; Einflussfaktor; Hochschulabsolvent; Hoch Qualifizierter; USA
Abstract	"While influential, the canonical supply-demand model of the wage returns to skill has faced challenges, including theoretically wrong-signed elasticities of substitution, counterintuitive paths for skill-biased technical change (SBTC), and an inability to account for observed deviations in college premia for younger versus older workers. We show that using improved estimates of skill prices and supplies that account for variation in skills across cohorts helps to explain the college premium differences between younger versus older workers and produces better out-of-sample predictions, positive elasticities of substitution between high- and low-skill workers, and a more modest role for SBTC. We further show that accounting for recession-induced jumps and trend adjustments in SBTC and linking SBTC to direct measures of information technology investment expenditures yield an improved fit, no puzzling slowdown in SBTC during the early 1990s, and a higher elasticity of substitution between high- and low-skill workers than previous ad hoc assumptions." The study refers to the period 1963-2017. (Author's abstract, IAB-Doku, © the Board of Regents of the University of Wisconsin System)..
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2024/1