Technology Structure and Skill Structure: Costly Investment and Complementarity Effects Quantification

• Type: Article in International Scientific Journal
• Date: 2014

Authors

Elena Sochirca (Author) FEP; Pedro Rui Mazeda Gil (Author) FEP; Óscar Afonso (Author) FEP

Journal

Title: Journal of Macroeconomics

Vol. 40

Pages: 172-189

ISSN: 0164-0704

Publisher: Elsevier

Indexing

ISI Web of Knowledge - 0 Citations

ISI Web of Science

Scopus - 0 Citations

Scientific classification

FOS: Social sciences > Economics and Business

Other information

Authenticus ID: P-009-K6B

DOI: 10.1016/j.jmacro.2014.03.007

Abstract (EN): Based on an extended model of endogenous directed technical change and on cross-country data, we identify and quantify the long-run link between: (i) the technology structure (high- vs. low-tech sectors) and the skill structure (high- vs. low-skilled workers), by considering an explicit role for the (potential) complementarity between technological goods; (ii) the Tobin-q and the technology characteristics of the firms through their impact on economic growth. Our estimation and calibration exercise suggests the existence of a moderate degree of complementarity and of an elastic relationship between the Tobin-q and key technology parameters.

Language: English

Type (Professor's evaluation): Scientific