Capital-Skill Complementarity, Income Distribution, and Output Accounting
Bibliographic Data
| ID | 10180652 |
|---|---|
| Authors | P R Fallon, P R G Layard |
| Year | 1975 |
| Volume | 83 |
| Issue | 2 |
| Pages | 279-302 |
| Publication date | 1975-04-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260323 |
| OpenAlex | W4240823850 |
| Language | EN |
| Citations received | 23 |
This article presents evidence for the view that physical capital is more complementary to educated labor than to less educated labor. For this reason previous estimates of elasticities of substitution between educated and less educated labor are too high. Using a two-level CES production function, we run international cross-sectional regressions at the level both of the economy and of individual sectors. The whole-economy model allows for the effects of wages on educational choices as well as vice versa. It predicts that, as total capitalper head rises, the share of physical capital in national income falls and that of human capital rises. The production function also shows that intercountry differences in output per head are due more to differences in physical capital than in human capital
Capital (architecture · Capital formation · Capital intensity · Complementarity (molecular biology · Demographic economics · Distribution (mathematics · Economics · Financial capital · Fixed capital · Human capital · Labour economics · Macroeconomics · Market economy · Physical capital · Production (economics · Production function · Economic Growth and Productivity · Economic Policies and Impacts · Fiscal Policy and Economic Growth
The Origins of Technology-Skill Complementarity
Human capital and energy consumption
Capital-skill Complementarity and Inequality
Identifying Human-Capital Externalities
The linguistic wage gap in Quebec, 1901 to 1951
Long-Run Substitutability Between More and Less Educated Workers
Capital-Skill Complementarity? Evidence from a Panel of Countries
Trade Liberalization, Capital Imports, and Wage Inequality in Skill-Scarce Economies
School enrollment among urban non-slum, slum and rural children in Kenya
Educational expansion, government policy and wage compression
The contribution of schooling in development accounting
Capital imports composition, complementarities, and the skill premium in developing countries
Technology and wages
Technology diffusion and firm performance
W. Arthur Lewis in Retrospect
Growth, equality, and history
The Labour Market Effects of Immigration and Emigration in OECD Countries
Wage Risk and the Skill Premium
A Critique of Planning Models for Postsecondary Education
Economic Sanctions against South Africa
The Economic Legacy of Civil War
Class Versus Industry Cleavages
Elasticity of Substitution in the Manufacturing Sector in the Czech Republic
| Unique citing works | 23 |
|---|---|
| Citations per year | 0,45 |
| Citation span | 1975 - 2022 (48) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 23 |