Skill-biased technological change and the business cycle

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Balleer, Almut; van Rens, Thijs. Skill-biased technological change and the business cycle. 2008
To cite or link this document: Balleer, Almut van Rens, Thijs
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa 2008-03-01
dc.description.abstract Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions. Hours fall in response to skill-biased technology shocks, indicating that at least part of the technology-induced fall in total hours is due to a compositional shift in labor demand. Skill-biased technology shocks have no effect on the relative price of investment, suggesting that capital and skill are not complementary in aggregate production.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1079
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.title Skill-biased technological change and the business cycle
dc.type info:eu-repo/semantics/workingPaper 2016-06-04T02:51:01Z
dc.subject.keyword Macroeconomics and International Economics
dc.subject.keyword skill-biased technology
dc.subject.keyword skill premium
dc.subject.keyword var
dc.subject.keyword long-run restrictions
dc.subject.keyword capital-skill complementarity
dc.subject.keyword business cycle
dc.rights.accessRights info:eu-repo/semantics/openAccess

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