What drives the skill premium: Technological change or demographic variation?

doi:10.1016/j.euroecorev.2012.09.005

CORC > 上海财经大学 > 上海财经大学

	What drives the skill premium: Technological change or demographic variation?
	He, Hui 1,2
刊名	EUROPEAN ECONOMIC REVIEW
	2012-11
卷号	56 期号:8 页码:1546-1572
关键词	Skill premium Schooling choice Capital-skill complementarity Investment-specific technological change Demographic change
ISSN号	0014-2921
DOI	10.1016/j.euroecorev.2012.09.005
英文摘要	This paper quantitatively examines the effects of two exogenous driving forces, investment-specific technological change (ISTC) and the demographic change known as "the baby boom and the baby bust," on the evolution of the skill premium and the college enrollment rate in the postwar U.S. economy. We develop a general equilibrium overlapping generations model with endogenous discrete schooling choice. The production technology features capital-skill complementarity as in Krusell et al. (2000). ISTC, through capital-skill complementarity, raises the relative demand for skilled labor, while demographic variation affects the skill premium by changing the age structure and hence the relative supply of skilled labor. We find that ISTC is the key element driving the skill premium in the postwar U.S. economy. And it is quantitatively important for the dynamics of the college enrollment rate. The quantitative importance of the demographic change for the evolution of both the skill premium and the college enrollment rate however is limited. (C) 2012 Elsevier B.V. All rights reserved.
WOS研究方向	Business & Economics
语种	英语
出版者	ELSEVIER SCIENCE BV
WOS记录号	WOS:000311465000005
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/2087]
专题	上海财经大学
通讯作者	He, Hui
作者单位	1.Shanghai Univ Finance & Econ SHUFE, Sch Econ, Shanghai 200433, Peoples R China; 2.Shanghai Univ Finance & Econ SHUFE, Minist Educ, Key Lab Math Econ, Shanghai 200433, Peoples R China
推荐引用方式 GB/T 7714	He, Hui. What drives the skill premium: Technological change or demographic variation?[J]. EUROPEAN ECONOMIC REVIEW,2012,56(8):1546-1572.
APA	He, Hui.(2012).What drives the skill premium: Technological change or demographic variation?.EUROPEAN ECONOMIC REVIEW,56(8),1546-1572.
MLA	He, Hui."What drives the skill premium: Technological change or demographic variation?".EUROPEAN ECONOMIC REVIEW 56.8(2012):1546-1572.