Do Recessions Accelerate - Routine-Biased Technological Change? Evidence from Vacancy Postings

• 成果类型: Article
• 署名作者: Hershbein, Brad; Kahn, Lisa B.
• 署名单位: W.E. Upjohn Institute for Employment Research; IZA Institute Labor Economics; Yale University; National Bureau of Economic Research
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20161570
• 发表日期: 2018
• 页码: 1737-1772
• 关键词: labor-market; wage inequality; level evidence; skill; TRADE; demand; FIRMS; tasks

摘要

We show that skill requirements in job vacancy postings differentially increased in MSAs that were hit hard by the Great Recession, relative to less - hard-hit areas. These increases persist through at least the end of 2015 and are correlated with increases in capital investments, both at the MSA and - firm levels. We also find that effects are most pronounced in - routine-cognitive occupations, which exhibit relative wage growth as well. We argue that this evidence is consistent with the restructuring of production toward - routine-biased technologies and the - more-skilled workers that complement them, and that the Great Recession accelerated this process.