Capital-skill complementarity, sectoral labor productivity, and structural transformation

Chen Chaoran

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Capital-skill complementarity, sectoral labor productivity, and structural transformation

机译：资本技能互补性，部门劳动生产率和结构转型

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In the postwar U.S. economy, labor productivity has been growing faster in the goods sector versus the service sector. This paper argues that this sectoral labor productivity growth gap can largely be explained by the fact that capital intensity also increases faster in the goods sector. I build a two-sector neoclassical growth model in which capital substitutes low-skilled labor but complements high-skilled labor, and the goods sector is more intensive in low-skilled labor relative to the service sector, as observed in the data. As capital becomes more abundant relative to labor along economic growth, low-skilled labor is substituted by capital, leading to faster growth of capital intensity and hence labor productivity in the goods sector. Using a calibrated model, I find that two thirds of the sectoral labor productivity growth gap can be explained by capital accumulation and its interaction with capital-skill complementarity. (C) 2020 Elsevier B.V. All rights reserved.

机译：在Postwar美国经济中，货物部门与服务部门相比，劳动生产率越来越快。本文认为，这种部门劳动生产率增长差距可以通过资金强度在货物部门的速度更快地增加来解释。我建立了一个双部门的新古典主义生长模型，其中资本替代低技能劳动力，但补充了高技能的劳动力，而且在数据中观察到，货物部门相对于服务部门的低技能劳动更为密集。由于资本相对于劳动力较多，沿着经济增长更加丰富，低技能劳动力被资本代替，导致资本强度的增长更快，因此在货物部门的劳动生产率。使用校准模型，我发现，资本积累及其与资本技能互补性的互动可以解释三分之二的部门劳动生产率增长缺口。（c）2020 Elsevier B.v.保留所有权利。

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《Journal of Economic Dynamics and Control》 |2020年第7期|103902.1-103902.18|共18页
作者
Chen Chaoran;
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作者单位

York Univ Dept Econ 4700 Keele St Keele ON M3J 1P3 Canada;

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正文语种 eng
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关键词
Capital intensity; Capital-skill complementarity; Structural transformation; Labor productivity;

机译：资本强度;资本技能互补性;结构转型;劳动生产率;

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Capital-skill complementarity, sectoral labor productivity, and structural transformation

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