shifts by (observable) changes in the capital stock under a capital-skill complementarity technology. The results show that … stock of capital, the KORV model predicts that the skill-premium will remain between -5% and +5% of its 1996 level …

Differences in wages, employment, and capital between worker-owned and capitalist enterprises are computed from a …, employment, and capital equations largely corroborate the implications of the behavioral models of the two types of enterprise …

determinant such as the observed decline in the relative price of new capital goods, or the change in production technology …The capital-to-labor ratio has steadily risen in the U.S. and elsewhere during the post-WWII period. Since the 1970s … market augmented by a CES production function that allows firms to substitute between capital and labor at varying degrees …

This paper estimates the elasticity of substitution between capital and skill using variation across U.S. counties in … immigration-induced skill-mix changes between 1860 and 1930. We find that capital began as a q-complement for skilled and … parametric production function calibrated to our estimates imply the level of capital-skill complementarity after 1890 likely …

This paper discusses the occurrence of Skill-Enhancing Technology Import (SETI), namely the relationship between … imports of embodied technology and widening skill-based employment differentials in a sample of low and middle income … countries (LMICs). In doing so, this paper provides a direct measure of technology transfer at the sector level from high income …

their levels of immigration. Because of complementarities between capital and labor, the return on capital is positively … related to the level of immigration. Consequently, when capital is immobile, host nations' optimal levels of immigration are … positively related to their capital endowments. Further, when capital is mobile between the two host nations, the common return …

balanced panel of 73 developed and developing countries to examine the capital-skill complementarity hypothesis. The exercise … shows some support for capital-skill complementarity, but the strength of the evidence depends upon the definition of …

In this paper, we explore empirically the role of openness, technology and labour market rigidity in the determination … and that the labour market in high technology sectors is more flexible than in low technology sectors. We use this index … that employment in low-technology sectors, with a high degree of trade openness and facing less rigidity in the labour …

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to … different realizations of firm specific technology shocks, possible leading to default by some firms. The paper advances a new …