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1.
Wage inequality between education groups in the United States has increased substantially since the early 1980s. The relative number of college-educated workers has also increased dramatically in the postwar period. This paper presents a unified framework where the dynamics of both skill accumulation and wage inequality arise as an equilibrium outcome driven by measured investment-specific technological change. Working through equipment–skill complementarity and endogenous skill accumulation, the model does well in capturing the steady growth in the relative quantity of skilled labor during the postwar period and the substantial rise in wage inequality after the early 1980s. Based on the calibrated model, we examine the quantitative effects of some hypothetical tax-policy reforms on skill accumulation, wage inequality, and welfare. 相似文献
2.
Edoardo Gaffeo 《Economics Letters》2011,113(3):252-255
This paper investigates the distributional properties of TFP growth rates for countries in the G7 group. Our findings lend support to the hypothesis that multifactor productivity shocks can be plausibly fitted by a symmetric non-Gaussian stable distribution model. This leads to non-negligible implications for business cycle analysis. 相似文献
3.
This paper revisits the debate about the appropriate differential equation that governs the evolution of knowledge in models of endogenous growth. We argue that the assessment of the appropriateness of an equation of motion should not only be based on its implications for the future, but that it should also include its implications for the past. We maintain that the evolution of knowledge is plausible if it satisfies two asymptotic conditions: Looking forwards, infinite knowledge in finite time should be excluded, and looking backwards, knowledge should vanish towards the beginning of time (but not before). Our key results show that, generically, the behavior of the processes under scrutiny is either implausible in the past and plausible in the future, or vice versa, or implausible at both ends of the time line.We would like to thank Ernst-Ludwig von Thadden, seminar participants at the University of Mannheim, two anonymous referees, and the editor for helpful comments. Andreas Irmen likes to express his gratitude to CESifo, Munich, for financial support and its hospitality. JEL Classification Numbers: O11, O31, O40 相似文献
4.
Kenneth Carlaw 《Economics of Innovation and New Technology》2013,22(4):299-309
A dynamic general equilibrium model is constructed and used to identify sources of total factor productivity growth in Canada and to quantify their importance. The model also provides procedures for constructing measures of technological progress. We find that periods of low productivity growth correspond to periods of high growth in investment-specific technology (IST) or high rates of technology embodiment. For example, the growth rate of IST was relatively high between 1974 and 1996. The higher growth rate of IST during this period should have increased the rate of productivity growth by an estimated 0.29 percentage points, ceteris paribus. Yet, productivity growth slowed. Why? 相似文献
5.
In this article, we analyze the effects of increasing automation in production processes on the labor share of national income. For the analyses, we use the DSGE model which contains both the physical capital and the human capital accumulation equations. We improve the model by defining productivity variables for both investment-specific technology and educational activities. In all simulations of the model except base scenario, we give more positive shock to the investment-specific technology compared to the educational activities. In each new simulation, we augment the difference between the shocks to determine the effects of increasing automation on the labor share of national income. The results show that increasing the shock difference decreases the labor share of national income, and this confirms the decline in the labor share of national income in both developed and developing countries since the 1980s. 相似文献
6.
By what process does technical change in information technology (IT) increase economic welfare? How does this process result
in increases in welfare at different rates in different countries and regions? This paper considers existing literature on
measuring the economic benefits from information technology, emphasizing comparative issues and user studies. Following Bresnahan
and Trajtenberg (1995), we call the invention associated with customizing the technological frontier to the unique needs of
users in particular regions “co-invention”, placing emphasis on understanding how its determinants vary across users in different
regions. We develop a framework for understanding the processes behind value-creation, demand-side heterogeneity and co-inventive
activity. Then we discuss why these processes make measuring the welfare benefits from advances in information technology
particularly difficult. We highlight the metrics currently available for measuring the economic pay-out of the IT revolution
and identify which of these vary meaningfully in a comparative regional context. Finally, we finish with observations about
further areas of research. 相似文献
7.
As a needed methodological complement to the existing large-scale complex policy modelling for energy technology diffusion, this paper contributes to an analytical exposition of the fundamental mechanism of international technology diffusion (ITD) for energy technological progress. We offer two different and complementary perspectives to explore the dynamics of energy technology diffusion and progress. We first develop a Solow-type efficiency-improving model of energy technological progress which is described by improvements in primary energy-augmenting efficiency. We further provide a Romer-type variety-expanding model of energy technological progress which is represented by the expansion of differentiated varieties of primary energy technology blueprints. Analysis based on two different models reaches consistent results: there are potential forces in the world economy – working through ITD – that pull individual countries to advance energy technology, ensuring a cross-country convergence in the growth rates of energy technology in the balanced growth path. While ITD plays a role in a cross-country convergence in technological growth rates, cross-country differences in the efficiency of undertaking indigenous research and the capacity of absorbing foreign technology spillovers would lead to a cross-country divergence in the absolute levels of energy technology. 相似文献
8.
Efficiency change,technological change and capital accumulation in Italian regions: a sectoral study
Simone Gitto 《International Review of Applied Economics》2017,31(2):191-207
This paper examines the sources of labour productivity in the Italian regions during the period 1980–2004. Five economic sectors are investigated using data envelopment analysis (DEA) and taking into account productive specialisation and sector inefficiencies. Labour productivity change is decomposed into five components by means of Malmquist productivity indices: intra-sector efficiency change, composition efficiency change, input-biased technical change, magnitude component technical change and capital accumulation. Using bootstrap procedure, the components of labour productivity changes are statistically tested. Efficiency analysis shows that productive specialisation is not a source of inefficiency and efficiency gains can be obtained by sector-specific policies. Thus, it is possible to obtain improvements in efficiency in each sector of activity rather than reallocating resources among sectors. The results of the decomposition by sectors reveal heterogeneous sources of growth. The total economy has shown evidence of non-neutral technical change and, it has been found that agriculture, industry and construction experienced capital using technical change. The analysis of the decomposition of the labour productivity growth is complemented by an analysis of β-convergence. 相似文献
9.
This paper investigates the “education-total factor productivity trade-off” in explaining income per worker differences between sub-Saharan (unlucky) and G7 (lucky) economies. First, we examine the dynamics of average years of schooling (i.e. education), capital per worker, income per worker, and total factor productivity (TFP) across sub-Saharan and G7 countries. We confirm that physical capital and education levels partially explain income per worker differences between lucky and unlucky economies. Second, we undertake a novel examination of the impact of technology shocks on income per worker, with the goal of understanding the role of technology variation in causing cross-country income per worker differences, and as a potential contributor to overall slow growth in the sub-Saharan region. In a vector autoregressive (VAR) framework, we show that the impact of “ad hoc” TFP shocks on income per worker is larger in unlucky economies than in lucky ones. We observe that average TFP volatility in the “unlucky world” is eight times higher than in the “G7 world”. We argue that the order of magnitude of the impact heavily depends on the level of the TFP volatility. Last, we suggest that the documented differences in the amount of physical capital and in the productivity of human capital between these two regions add conceptual support for the existence of poverty traps for sub-Saharan Africa. 相似文献
10.
We create a generational patent citation tree to reveal the development of bogie technology in the high-speed rail industry. We cull the information in patent citations to reveal the generational development of bogie technology by analysing patent titles, patent publication dates and patent-granting regions. We then measure the development of bogie technology by calculating its technological development on-orbit rate and by mapping the stages of technological development and its regional diffusion. The results show that bogie technologies are in a period of sustained growth and this period of sustained growth will remain. Technological development is accelerating and this acceleration will persist, although the global dispersion of technology lags behind in scope and speed. 相似文献
11.
Alain Raybaut 《European Journal of the History of Economic Thought》2014,21(5):899-919
AbstractIn this framework, the existence of a limit cycle is mathematically proved and its existence confirmed by empirical evidence. The mathematical tools are similar to Keynesian pioneering non-linear macrodynamic advances but the theoretical framework is obviously totally distinct. In particular, for Allais, the origin of endogenous cycles is monetary, and explained by the interplay between two key elements: the agents that hold the desired money balances and the banking system that can create money. 相似文献
12.
Firms as the source of innovation and growth: the evolution of technological competence 总被引:5,自引:0,他引:5
It is argued that the firm is the principal source of innovation and growth, a device for the establishment of technological
competence, and for its continued development over time. Markets, products and background knowledge may change quite dramatically
over time. Yet as a result of the cumulative nature of learning in the production processes of firms, the profile of corporate
technological competence will tend to persist over quite long periods, provided there is institutional continuity. Within
the same firm, competence may evolve into related areas, but the firm's technological origins will remain identifiable in
its subsequent trajectories. However, if the institution itself changes more dramatically, this technological persistence
may be disrupted. Supporting evidence is provided from data on the patenting of 30 large US and European companies, which
have been continuously active since the interwar period. The science and the knowledge base, and the composition of products
and markets may shift quite radically, but the firm's productive and technological system itself is potentially more stable.
The firm provides a vehicle for potential institutional continuity and a device for managing transitions within the economic
system. 相似文献
13.
R. Jeffrey Lustig 《Journal of economic issues》2013,47(1):123-152
I discuss the theoretical and empirical literature on the quantitative and qualitative employment impact of technological change. I also compare the relative explanatory power of competing economic theories, while detailing the macro, sectoral, and micro evidence on the issue with reference to advanced and developing economies. The main purpose of the paper is to offer a critical meta-analysis of both the theory and recent empirical achievements stemming from the relationship of technology and employment. More specifically, I draw some general conclusions about possible consequences of that relationship. 相似文献
14.
针对目前在技术政策的制定与实施方面我国与发达国家有较大差距的现状,引入技术生命周期理论,建立技术政策需求分析模型;并应用于应对气候变化领域:在综述国内外应对气候变化的技术政策实施现状的基础上,通过列表对比分析,最终得出我国应对气候变化的技术政策需求,以期为政策制定者提供决策参考,为我国应对气候变化目标顺利实现提供政策支持。 相似文献
15.
Howard Rush John Bessant Mike Hobday Eoghan Hanrahan Mauricio Zuma Medeiros 《Technology Analysis & Strategic Management》2014,26(3):353-365
Firms differ widely in their technological capabilities. Innovation policies are likely to be more or less successful depending upon the level of such abilities of those firms to which a policy is aimed. Without data on the proficiencies, strengths and weaknesses of firms within the target group(s), the construction and application of innovation or industrial policies are likely to miss salient factors in the ability of firms to benefit from the support that is intended. An in-depth knowledge of firms’ capabilities can allow policy-makers to target support according to the specific needs of firms. This paper describes the Technology capability audit tool (or CAT) that was designed to assist policy-makers in differentiating between firms and in understanding their level of ‘innovation readiness’. Examples of the use of the CAT are presented from South Korea, Thailand, Ireland, Brazil and the UK. 相似文献
16.
Friedman's `plucking' model, in which output cannot exceed a ceiling level but is occasionally plucked downward by recessions,
is tested using Kim and Nelson's formal econometric specification on output data from the G-7 countries. Considerable support
for the model is obtained, leading us to conclude that during normal periods, output seems to be driven mostly by permanent
shocks, but during recessions and high-growth recoveries, transitory shocks dominate. During these periods macroeconomic models
that emphasise demand-oriented shocks, rather than real business cycle type models, may thus be more appropriate.
First Version Received: September 2000/Final Version Received: May 2001 相似文献
17.
Giuseppe Croce 《Applied economics》2020,52(23):2427-2442
ABSTRACTBased on the assumption that the set of skills characterizing different fields of study do not match the new technologies in the same way, we focus on the evolution of wage gaps between university graduates in STEM disciplines and other subjects. An Oaxaca decomposition technique is applied to early wages of Italian graduates after taking into account both the selection into employment and the endogeneity of major’s choice. Our results can hardly be reconciled with the hypothesis of a technological change favouring STEM graduates in Italy, and are more consistent with the worsening in the relative demand for STEM graduates. 相似文献
18.
Liang-Hung Lin 《Technology Analysis & Strategic Management》2019,31(6):707-719
This study aims to examine how technology interdependence and three environmental variables, namely political instability, technological uncertainty and Confucian dynamism, in the host country collectively influence Taiwanese technological multinational company’s (MNC) entry mode choice between joint venture (JV) and wholly owned subsidiary (WOS). Grounded on theories of transaction cost economies and organisational design, this study hypothesises a positive technology interdependence–WOS relationship that can be explained by appropriation and coordination concerns. Moreover, the aforementioned relationship can be positively moderated by technological uncertainty while negatively moderated by political instability and Confucian dynamism. These hypotheses were examined and supported using logistic regressions in the analysis of 195 foreign entries undertaken by Taiwanese information and electronic MNCs. 相似文献
19.
The implications of ICT on wage inequality are studied by applying a CES production function with skilled and unskilled labour. Skill-biased technological change increases wage inequality. The result is reinforced in a two-sector general equilibrium model if the income elasticity of the demand for high-tech goods and the elasticity of substitution between final goods are larger than one. 相似文献