Autore
Garcia Cervero, Susana

Titolo
Skill differentials in the long and in the short run. A 4-digit SIC level U.S. manufacturing study.
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1996 - Fascicolo: 37 - Pagina iniziale: 1 - Pagina finale: 35

During the last decade, labour economists have shown an increasing interest in explaining the behaviour of skill wage differentials as well as the evolution of the corresponding inputs' shares. Most tend to focus on the long run evolution of such variables, few on their short run fluctuations, none on both. They also tend to consider only one of the two main forces traditionally given as explanations of the behaviour of the skill shares differentials: capital skill complementarity and biased technical progress. This paper studies this behaviour both in the long run and in the short run allowing for both of these causes to act jointly. The results strongly suggest the existence of capital-skill complementarity and the incapability of the Solow Residual to approach technology at business cycle frequencies. These findings seem to challenge most papers on Real Business Cycles.



Testo completo: http://hdl.handle.net/1814/609

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