On the Estimation of Skill Coefficients for Heterogeneous Labor

R. E. Greenblatt

Review of Political Economy, 2017, vol. 29, issue 1, 133-147

Abstract: Many economists have questioned the existence of a solution to the problem of reducing the value of skilled to unskilled labor, consistent with the assumptions of the labor theory of value. This article presents a model to account quantitatively for an important component of the reduction—the relation between skills and earnings. The model contains an educational attainment graph and a multivariate linear function, which maps time to labor content. We then compare the resulting relative skill coefficients to earnings relative to an unskilled labor reference. The predictions of the model substantially agree with the empirical data.

Date: 2017
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DOI: 10.1080/09538259.2016.1243285

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