| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP2599
|
| DP2599 Human Capital and Externalities in Cities |
| Antonio Ciccone; Giovanni Peri
|
| 发表日期 | 2000-11-28
|
| 出版年 | 2000
|
| 语种 | 英语
|
| 摘要 | This Paper claims that technical progress induces early retirement of older workers. It supports this claim both theoretically and empirically. We present a model where part of human capital is technology-specific, so that technical progress erodes some existing human capital. This affects mostly older workers, who do not learn the new technology, since their career horizon is short. As a result their participation in the labour force declines. We find strong support to this erosion effect in US data, which shows that labour supply of older workers is negatively related to technical progress across sectors. Unlike the cross-section effect, the model is ambiguous about the aggregate effect of technical progress on labour participation of older workers. While in sectors with many innovations it falls due to erosion of human capital, in other sectors it increases due to higher wages. To examine which effect dominates, we run a time series test and find that the effect of average technical progress on aggregate labour force participation by the old is negative. Namely, the erosion effect dominates. |
| 主题 | International Macroeconomics
|
| 关键词 | Technical progress
Human capital
Labour force participation
|
| URL | https://cepr.org/publications/dp2599
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531668
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推荐引用方式
GB/T 7714 |
Antonio Ciccone,Giovanni Peri. DP2599 Human Capital and Externalities in Cities. 2000.
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