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Technology Adoption and Skill Premium in the Knowledge Economy

Listed author(s):
  • Sang-Chul Yoon

    (Dankook University)

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    This paper introduces an indirect utility function with non-constant expenditure shares to analyze how technology adoption and skill premium are linked in the knowledge economy. The model shows that if and only if the technology is “general purpose technology†(GPT), technology adoption increases the skill premium in spite of the relative price decline of modern goods that are skill-intensive.

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    File URL: http://keapaper.kea.ne.kr/RePEc/kea/keappr/KER-20111231-27-2-03.pdf
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    Article provided by Korean Economic Association in its journal Korean Economic Review.

    Volume (Year): 27 (2011)
    Issue (Month): ()
    Pages: 231-251

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    Handle: RePEc:kea:keappr:ker-20111231-27-2-03
    Contact details of provider: Web page: http://www.kea.ne.kr/
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    1. Bresnahan, Timothy F. & Trajtenberg, M., 1995. "General purpose technologies 'Engines of growth'?," Journal of Econometrics, Elsevier, vol. 65(1), pages 83-108, January.
    2. Daron Acemoglu, 1998. "Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality," The Quarterly Journal of Economics, Oxford University Press, vol. 113(4), pages 1055-1089.
    3. Wolff, Edward N., 2002. "The impact of IT investment on income and wealth inequality in the postwar US economy," Information Economics and Policy, Elsevier, vol. 14(2), pages 233-251, June.
    4. Robert J. Gordon, 2000. "Does the "New Economy" Measure Up to the Great Inventions of the Past?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 49-74, Fall.
    5. Hyunbae Chun, 2003. "Information Technology and the Demand for Educated Workers: Disentangling the Impacts of Adoption versus Use," The Review of Economics and Statistics, MIT Press, vol. 85(1), pages 1-8, February.
    6. Ethier, Wilfred J, 1982. "National and International Returns to Scale in the Modern Theory of International Trade," American Economic Review, American Economic Association, vol. 72(3), pages 389-405, June.
    7. Dinopoulos, Elias & Syropoulos, Constantinos & Xu, Bin & Yotov, Yoto V., 2011. "Intraindustry trade and the skill premium: Theory and evidence," Journal of International Economics, Elsevier, vol. 84(1), pages 15-25, May.
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