Human Capital Responses to Technological Change in the Labor Market
Jacob Mincer
No 3207, NBER Working Papers from National Bureau of Economic Research, Inc
Abstract:
In a broad sense, the relation of human capital to economic growth is reciprocal. This study focuses more narrowly on labor market consequences of human capital adjustments to the pace of technological change. Using Jorgensons multifactor productivity growth indexes for industrial sectors in the 1960's and 1970's the study explores effects of differential pace of technological changes on industry demands for educated and trained workers as reflected in PSID data covering the 1968 to 1983 period. The findings show relative increases both in quantity demanded (utilization) and in price (wages) of skilled workers in the more progressive sectors. Steeper wage profiles, lesser turnover, and lesser unemployment characterize labor in sectors whose productivity grew faster in preceding years. The growth of sectoral capital intensity produces similar effects. But, as newer vintages of capital contain new technology, the skill bias of capital intensity partly reflects the skill bias of technology.
Date: 1989-12
Note: LS
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (63)
Published as Studies in Human Capital, Elgar Publishers, 1993
Downloads: (external link)
http://www.nber.org/papers/w3207.pdf (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:3207
Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w3207
Access Statistics for this paper
More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().