Aggregate Elasticity of Substitution between Skills: Estimates from a Macroeconomic Approach

Michał Jerzmanowski, Robert Tamura
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引用次数: 3

Abstract

We estimate the elasticity of substitution between high-skill and low-skill workers using panel data from 32 countries during 1970–2015. Most existing estimates, which are based only on US microdata, find a value close to 1.6. We bring international data together with a theory-informed macro-approach to provide new evidence on this important macroeconomic parameter. Using the macro-approach, we find that the elasticity of substitution between tertiary-educated workers and those with lower education levels falls between 1.7 and 2.6, which is higher than previous estimates but within a plausible range. In some specifications, estimated elasticity is above the value required for strong skill-bias of technology, suggesting strong skill-bias is possible.
技能之间的总替代弹性:来自宏观经济方法的估计
我们使用来自32个国家1970-2015年的面板数据估计了高技能和低技能工人之间的替代弹性。大多数现有的估计都是基于美国的微数据,得出的值接近1.6。我们将国际数据与理论知情的宏观方法结合起来,为这一重要的宏观经济参数提供新的证据。使用宏观方法,我们发现受过高等教育的工人和受教育程度较低的工人之间的替代弹性介于1.7和2.6之间,高于之前的估计,但在一个合理的范围内。在某些规范中,估计弹性高于技术的强技能偏差所需的值,表明可能存在强技能偏差。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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