Capital-Skill Complementarity: Does Capital Composition Matter?

被引：9
|
作者：
Correa, Juan A. [1 ]
Lorca, Miguel [2 ]
Parro, Francisco [3 ]
机构：
[1] Univ Andres Bello, Santiago 7591538, Chile
[2] Univ New South Wales, Sydney, NSW 2052, Australia
[3] Univ Adolfo Ibanez, Santiago 7941169, Chile
来源：
SCANDINAVIAN JOURNAL OF ECONOMICS | 2019年 / 121卷 / 01期
关键词：
Skill wage premium; technological capital; translog function; PRODUCTIVITY; LABOR; LIBERALIZATION; INEQUALITY; INNOVATION; MODEL; EXIT;
D O I：
10.1111/sjoe.12267
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We estimate the effect of capital composition on the size of capital-skill complementarity and the skill wage premium. Disaggregating the capital stock into different types according to technological content, we find that: capital is more of a q-complement to skilled labor than to unskilled labor; the higher the technological component of capital, the larger the size of the relative q-complementarity between capital and skilled labor; and replacing non-technological with technological capital might increase the skill wage premium by about 9 percent. Our results highlight that changes in capital composition matter for understanding changes in the skill wage premium.
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页码：89 / 116
页数：28
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