A NOTE ON SKILL-STRUCTURE SHOCKS, THE SHARE OF THE HIGH-TECH SECTOR, AND ECONOMIC GROWTH DYNAMICS

• Tipo: Artigo em Revista Científica Internacional
• Data: 2016

Autores

Pedro Rui Mazeda Gil (Autor) FEP; Óscar Afonso (Autor) FEP; vasconcelos, pb (Autor) FEP

Revista

Título: Macroeconomic Dynamics

Vol. 20

Páginas: 1906-1923

ISSN: 1365-1005

Editora: Cambridge University Press

Indexação

ISI Web of Knowledge - 4 Citações

Scopus - 4 Citações

Classificação Científica

CORDIS: Ciências Sociais > Economia

FOS: Ciências sociais > Economia e gestão

Outras Informações

ID Authenticus: P-00K-VSP

DOI: 10.1017/s1365100515000152

Abstract (EN): By means of an endogenous growth model of directed technical change with vertical and horizontal R&D, we study a transitional-dynamics mechanism that is consistent with the changes in the shares of the high-versus the low-tech sectors found in recent European data. Under the hypothesis of a positive shock in the proportion of high-skilled labor, the technological-knowledge bias channel leads to unbalanced sectoral growth with a noticeable shift of resources across sectors. A calibration exercise suggests that the model is able to account for up to from 50 to about 100 percent of the increase in the share of the high-tech sector observed in the data from 1995 to 2007. However, the model predicts that the dynamics of the share of the high-tech sector has no significant impact on the dynamics of the economic growth rate.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 18