Optimal fiscal policy in a multisector model: The price consequences of government spending.
Second-best tax policy and natural resource management in growing economies.
Barriers to Technological Adoption in Spain and Portugal.
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Abstract: We estimate the elasticity of substitution between skilled and unskilled labor and the pace of skill-biased technological change at the industry level. The data is compiled from the March extract of the Current Population Survey from 1968-2006. Industry information provided by the survey is used to group workers into 13 industry categories and education levels are used to dichotomize workers as skilled or unskilled. We construct measures of the ratio of skilled to unskilled employment and the ratio of skilled to unskilled wages in each industry. Using a relationship implied by profit maximizing behavior on the part of representative firms, this data generates estimates of structural parameters. We find considerable differences across industries in the elasticity of substitution between skilled and unskilled labor. Furthermore, while most industries have experienced skill-biased technological change, the pace of this change has varied widely across industries.
