G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15724
DP15724 Skilled and Unskilled Labor Are Less Substitutable than Commonly Thought
Tomas Havranek; Zuzana Irsova; Lubica Laslopova; Olesia Zeynalova
发表日期2021-01-26
出版年2021
语种英语
摘要A key parameter in the analysis of wage inequality is the elasticity of substitution between skilled and unskilled labor. We question the common view that the elasticity exceeds 1. Two biases, publication and attenuation, conspire to pull the mean elasticity reported in the literature to 1.9. After correcting for the biases, the literature is consistent with the elasticity in the US of 0.6-0.9. Our analysis relies on 729 estimates of the elasticity collected from 76 studies as well as 37 controls that reflect the context in which the estimates were obtained. We use recently developed nonlinear techniques to correct for publication bias and employ Bayesian and frequentist model averaging to address model uncertainty. Our results suggest that, first, insignificant estimates of the elasticity are underreported. Second, because researchers typically estimate the elasticity's inverse, measurement error exaggerates the elasticity, and we show the exaggeration is substantial. Third, elasticities are systematically larger for developed countries, translog estimation, and methods that ignore endogeneity.
主题Labour Economics
关键词Elasticity of substitution Skill premium Meta-analysis Model uncertainty Publication bias
URLhttps://cepr.org/publications/dp15724
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544730
推荐引用方式
GB/T 7714
Tomas Havranek,Zuzana Irsova,Lubica Laslopova,et al. DP15724 Skilled and Unskilled Labor Are Less Substitutable than Commonly Thought. 2021.
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