Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings

Brad Hershbein and Lisa Kahn

No 22762, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We show that skill requirements in job vacancy postings differentially increased in MSAs that were hit hard by the Great Recession, relative to less hard-hit areas. These increases persist through at least the end of 2015 and are correlated with increases in capital investments, both at the MSA and firm-levels. We also find that effects are most pronounced in routine-cognitive occupations, which exhibit relative wage growth as well. We argue that this evidence is consistent with the restructuring of production toward routine-biased technologies and the more-skilled workers that complement them, and that the Great Recession accelerated this process.

JEL-codes: D22 E32 J23 J24 M51 O33 (search for similar items in EconPapers)
Date: 2016-10
New Economics Papers: this item is included in nep-ino, nep-lma, nep-mac and nep-tid
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Citations: View citations in EconPapers (40)

Published as Brad Hershbein & Lisa B. Kahn, 2017. "Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings," Employment Research, vol 24(4), pages 1-4.
Published as Brad Hershbein & Lisa B. Kahn, 2018. "Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings," American Economic Review, vol 108(7), pages 1737-1772.

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Related works:
Journal Article: Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings (2018)
Working Paper: Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings (2016)
Working Paper: Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings
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