Technology structure and skill structure: Costly investment and complementarity effects quantification

Elena Sochirca, Pedro Gil and Oscar Afonso

Journal of Macroeconomics, 2014, vol. 40, issue C, 172-189

Abstract: Based on an extended model of endogenous directed technical change and on cross-country data, we identify and quantify the long-run link between: (i) the technology structure (high- vs. low-tech sectors) and the skill structure (high- vs. low-skilled workers), by considering an explicit role for the (potential) complementarity between technological goods; (ii) the Tobin-q and the technology characteristics of the firms through their impact on economic growth. Our estimation and calibration exercise suggests the existence of a moderate degree of complementarity and of an elastic relationship between the Tobin-q and key technology parameters.

Keywords: High-tech; Low-tech; Skills; Complementarity; Tobin-q; Technological-knowledge bias (search for similar items in EconPapers)
JEL-codes: O31 O41 (search for similar items in EconPapers)
Date: 2014
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Working Paper: Technology Structure and Skill Structure: Costly Investment and Complementarity Effects Quantification (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:40:y:2014:i:c:p:172-189

DOI: 10.1016/j.jmacro.2014.03.007

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