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Skill-Biased Structural Change and the Skill Premium

Richard Rogerson (), Joseph Kaboski and Francisco Buera
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Francisco Buera: Federal Reserve Bank of Chicago

No 895, 2015 Meeting Papers from Society for Economic Dynamics

Abstract: We document for a broad panel of advanced economies that increases in GDP per capita are associated with a shift in the composition of value added to sectors that are intensive in high-skill labor. It follows that further development in these economies leads to an increase in the relative demand for skilled labor. We develop a two-sector model of this process and use it to assess the contribution of this process of skill-biased structural change to the rise of the skill premium in the US over the period 1977 to 2005. We find that these compositional demands account for roughly 30% of the overall increase of the skill premium due to technical change.

New Economics Papers: this item is included in nep-dge and nep-tid
Date: 2015
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More papers in 2015 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
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