The Nature of Technological Change 1960-2016

Costas Cavounidis, Vittoria Dicandia, Kevin Lang and Raghav Malhotra

No 24-28, Working Papers from Federal Reserve Bank of Cleveland

Abstract: We present a unified technological explanation of both the movement of workers across jobs using different skills and the changes in skill use within jobs. An envelope-theorem approach allows us to estimate relative skill-productivity growth from worker mobility using OLS while making minimal assumptions on each occupation's production function. Using six decades of data, we conclude that routine-cognitive- and finger-dexterity-skill productivity grew rapidly and abstract- and social-skill productivity grew slowly - a form of "skill bias." These effects, along with our estimated relationships between skill inputs, also explain changes in skill use within occupations.

Keywords: skills; technological change (search for similar items in EconPapers)
JEL-codes: J24 O33 (search for similar items in EconPapers)
Pages: 41
Date: 2024-11-26
New Economics Papers: this item is included in nep-eff, nep-gro, nep-his, nep-lma and nep-tid
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DOI: 10.26509/frbc-wp-202428

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