Balleer, Almut and van Rens, Thijs (2012) Skill-biased technological change and the business cycle. Review of Economics and Statistics. ISSN 0034-6535
Full text not available from this repository.Abstract
Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run zero and sign restrictions. Hours fall in response to skill-biased technology shocks, indicating that part of the technology-induced fall in hours is due to a compositional shift in labor demand. Investment-specific technology shocks reduce the skill premium, indicating that capital and skill are not complementary in aggregate production.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.mitpressjournals.org/loi/rest |
| Additional Information: | © 2012 Massachusetts Institute of Technology Press |
| Divisions: | LSE |
| Subjects: | H Social Sciences > HC Economic History and Conditions |
| Date Deposited: | 01 Jul 2014 14:34 |
| Last Modified: | 14 Sep 2024 05:32 |
| Projects: | SEJ2005-01124, SEJ2006-02235, ECO2008-01665, 2009SGR-1157, ES/L500343/1 |
| Funders: | Spanish Ministry of Education and Science, Juan de la Cierva, Generalitat de Catalunya, Beatriu de Pinos, Barcelona GSE Research Network, Economic and Social Research Council |
| URI: | http://eprints.lse.ac.uk/id/eprint/57362 |
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