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We establish an important role for the firm by studying capital reallocation decisions of mutual fund firms. At least 30% of the value mutual fund managers add can be attributed to the firm's role in efficiently allocating capital amongst its mutual fund managers. We find no evidence of a...
Persistent link: https://www.econbiz.de/10013053836
Firms in the same industry can differ in measured productivity by multiples of 3. Griliches (1957) suggests one explanation: the quality of inputs differs across firms. We add labor market history variables such as experience and firm and industry tenure, as well as general human capital...
Persistent link: https://www.econbiz.de/10013128897
This paper develops a human capital measure in the sense of Schultz (1960) and then reevaluates the contribution of human capital to China's economic growth. The results indicate that human capital plays a much more important role in China's economic growth than available literature suggests,...
Persistent link: https://www.econbiz.de/10013135239
A central organizing framework of the voluminous recent literature studying changes in the returns to skills and the … supply and demand for skills by assuming two distinct skill groups that perform two different and imperfectly substitutable … economies are shaped by the interactions among worker skills, job tasks, evolving technologies, and shifting trading …
Persistent link: https://www.econbiz.de/10013116038
International trade theory is a general-equilibrium discipline, yet most of the standard portfolio of research focuses on the production side of general equilibrium. In addition, we do not have a good understanding of the relationship between characteristics of goods in production and...
Persistent link: https://www.econbiz.de/10013105464
Employing original, representative survey data, we document that cognitive, interpersonal and physical job task demands can be measured with high validity using standard interview techniques. Job tasks vary substantially within and between occupations, are significantly related to workers'...
Persistent link: https://www.econbiz.de/10013158506
skills in the labor force can play a role in the determination of trade flows. We develop a multi-country, multi-sector model …' skills, (ii) the dispersion of skills in the working population. First, we show how higher dispersion in human capital can … trigger specialization in sectors characterized by higher substitutability among workers' skills. We then use industry …
Persistent link: https://www.econbiz.de/10013158695
In traditional signaling models, education provides a way for individuals to sort themselves by ability. Employers in turn use education to statistically discriminate, paying wages that reflect the average productivity of workers with the same given level of education. In this paper, we provide...
Persistent link: https://www.econbiz.de/10012759371
We estimate the effects of technology investments on the demand for skilled workers using longitudinally integrated employer-employee data from the U.S. Census Bureau's Longitudinal Employer-Household Dynamics Program infrastructure files spanning two Economic Censuses (1992 and 1997). We...
Persistent link: https://www.econbiz.de/10012760169
relatively high proportions of individuals with diminished cognitive and social skills. A cross-disciplinary examination of … skills, as well as on brain architecture and neurochemistry; that both skill development and brain maturation are …
Persistent link: https://www.econbiz.de/10012761339