Technology Structure and Skill Structure: Costly Investment and Complementarity Effects Quantification

Elena Sochirca (), Pedro Gil and Oscar Afonso
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Elena Sochirca: Faculty of Economics, University of Porto, CEF.UP

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

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- versus low-tech sectors) and the skill structure (high- versus low-skilled workers), by considering an explicit role for the (potential) gross 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 gross 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)
Pages: 24 pages
Date: 2013-01
New Economics Papers: this item is included in nep-knm
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Citations: View citations in EconPapers (2)

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Journal Article: Technology structure and skill structure: Costly investment and complementarity effects quantification (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:478

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