Labor Substitutability among Schooling Groups

• 成果类型: Article
• 署名作者: Bils, Mark; Kaymak, Baris; Wu, Kai-jie
• 署名单位: University of Rochester; National Bureau of Economic Research; Universite de Montreal; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20220288
• 发表日期: 2024
• 页码: 1-34
• 关键词: human-capital stock; wage inequality; WORLD; ECONOMICS; education; GROWTH; skills; BIAS

摘要

Given worldwide trends in education, wage premium for schooling, and real GDP, we derive a lower bound for the long-run elasticity of labor substitution across schooling groups of around 4, which is far higher than values commonly used in the literature. We exploit our bound to reexamine the importance of human capital in cross-country income differences, including the roles of school quality versus the skill bias of technology in the greater efficiency gains from schooling in richer countries. ( JEL E23, E24, I26, J24, J31, O15)