Technology Adoption and Skill Premium in the Knowledge Economy

Sang-Chul Yoon
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Sang-Chul Yoon: Dankook University

Korean Economic Review, 2011, vol. 27, 231-251

Abstract: This paper introduces an indirect utility function with non-constant expenditure shares to analyze how technology adoption and skill premium are linked in the knowledge economy. The model shows that if and only if the technology is “general purpose technology†(GPT), technology adoption increases the skill premium in spite of the relative price decline of modern goods that are skill-intensive.

Keywords: Technology Adoption; GPT; Skill Premium; Non-constant Expenditure Shares; Knowledge Economy (search for similar items in EconPapers)
JEL-codes: F12 J31 O30 (search for similar items in EconPapers)
Date: 2011
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