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employment of skilled workers in the US and the UK since the 1980s. If more skilled workers demand more skill-intensive goods … richer workers demand more low skill-intensive services (such as cleaning and personal services) but also more skill …-intensive services (such as education and professional services). The parametrization of a simple model suggests that this induced demand …
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employment of skilled workers in the US and the UK since the 1980s. If more skilled workers demand more skill-intensive goods … richer workers demand more low skill-intensive services (such as cleaning and personal services) but also more skill …-intensive services (such as education and professional services). The parametrization of a simple model suggests that this induced demand …
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"We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
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