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240607 ||| eng |
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|a 9798400250514
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1 |
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|a Behar, Alberto
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| 245 |
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|a The Elasticity of Substitution Between Skilled and Unskilled Labor in Developing Countries: A Directed Technical Change Perspective
|c Alberto Behar
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2023
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| 300 |
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|a 40 pages
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| 653 |
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|a Education: General
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| 653 |
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|a Economic Development: Human Resources
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| 653 |
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|a Labor
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| 653 |
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|a Labor market
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Occupational Licensing
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| 653 |
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|a Technological Change: Choices and Consequences
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| 653 |
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|a Currency crises
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| 653 |
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|a Wage Differentials
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| 653 |
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|a Income economics
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| 653 |
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|a Unskilled labor
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| 653 |
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|a Human Capital
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| 653 |
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|a Diffusion Processes
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| 653 |
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|a General issues
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Migration
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| 653 |
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|a Economics
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| 653 |
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|a Technology
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| 653 |
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|a Income Distribution
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| 653 |
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|a Wage Level and Structure
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| 653 |
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|a Technological Change
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| 653 |
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|a Occupational Choice
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| 653 |
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|a Wages
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| 653 |
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|a Research and Development
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| 653 |
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|a Labor Productivity
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| 653 |
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|a Skills
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| 653 |
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|a Economics of specific sectors
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| 653 |
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|a Education
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| 653 |
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|a Wages, Compensation, and Labor Costs: General
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| 653 |
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|a Labor Demand
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| 653 |
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|a Labour
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| 653 |
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|a Economics: General
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| 653 |
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|a Informal sector
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| 653 |
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|a Intellectual Property Rights: General
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| 653 |
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|a Skilled labor
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| 653 |
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|a Innovation
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| 653 |
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|a Human Development
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| 653 |
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|a Professional Labor Markets
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9798400250514.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2023/165/001.2023.issue-165-en.xml?cid=537480-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We develop a model of endogenous skill-biased technical change in developing countries. The endogenous response to a rise in skill supply counters the traditional substitution effect and dampens its role in reducing wage inequality. The model re-enforces consensus estimates of the elasticity of substitution between more/less educated workers by reconciling dispersed existing estimates. It also rationalizes estimates that were hitherto deemed implausible or model-inconsistent. We produce new estimates for developing countries with a novel global panel (finding values at or just above 2) and with Latin American data that facilitates analysis of dynamics (which reduce estimates to 1.7-1.8). We therefore shed new light on a parameter that is crucial for inequality, growth, and other key macroeconomic questions
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