Occupational Exposure to Capital-Embodied Technical Change

• 成果类型: Article
• 署名作者: Caunedo, Julieta; Jaume, David; Keller, Elisa
• 署名单位: University of Toronto; Bank of Mexico; University of Exeter
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20211478
• 发表日期: 2023
• 页码: 1642-1685
• 关键词: technological-change; INEQUALITY; polarization; GROWTH; TRENDS; jobs; computers; skills; micro

摘要

We study differences in exposure to factor-biased technical change among occupations by providing the first measures of capital -em-bodied technical change (CETC) and of the elasticity of substitution between capital and labor at the occupational level. We document siz-able occupational heterogeneity in both measures, but quantitatively, it is the heterogeneity in factor substitutability that fuels workers' exposure to CETC. In a general equilibrium model of worker sorting across occupations, CETC accounts for almost all of the observed labor reallocation in the US between 1984 and 2015. Absent occu-pational heterogeneity in factor substitutability, CETC accounts for only 17 percent of it (JEL I26, J16, J24, J31, O33)