Equipment Investment and the Relative Demand for Skilled Labor: International Evidence |
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| Institution: | 1. University Medical Center, Utrecht, The Netherlands;2. Isala Klinieken, Zwolle, The Netherlands;3. Amphia Ziekenhuis, Breda, The Netherlands;4. University Medical Center, Groningen, The Netherlands;5. Erasmus Medical Center, Rotterdam, The Netherlands;6. Medisch Spectrum Twente, Enschede, The Netherlands;7. Medical Center, Leeuwarden, The Netherlands;8. Vrije Universiteit Medical Center, Amsterdam, The Netherlands;9. Academic Medical Center, Amsterdam, The Netherlands;1. Department of Cardiology, University Medical Center Utrecht, Heidelberglaan 100, 3584 CX Utrecht, The Netherlands;2. Department of Anesthesiology and Intensive Care, University Medical Center Utrecht, Heidelberglaan 100, 3584 CX Utrecht, The Netherlands;3. Department of Cardiothoracic surgery, University Medical Center Utrecht, Heidelberglaan 100, 3584 CX Utrecht, The Netherlands |
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| Abstract: | The effects of equipment investment on relative wages and employment of skilled labor are estimated. The basic hypothesis is that such effects are positive, because of the presence of either equipment–skill complementarity or skill advantage in technology adoption. Using a panel data set for a wide range of countries, the relative wage and relative employment of skilled workers are regressed on lagged investment in machinery and other relevant variables. The results indicate a positive and strong effect of machinery investment on the relative demand for skilled labor, with the relative wage responding much sooner and for a much shorter time than relative employment. Journal of Economic Literature Classification Number: E24. |
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