Tsai, Yi-Chan; Yang, C. C.; Yu, Hsin-Jung - In: Quantitative economics : QE ; journal of the … 13 (2022) 3, pp. 1061-1099
With capital‐skill complementarity, the secular decline in the price of capital equipment due to equipment‐specific … technological progress (ESTP) keeps pushing up the demand for skilled relative to unskilled labor and raising the skill premium …