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Table · dataset · 2014

Data for Skill-biased technological change and the business cycle

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Over the past two decades, technological progress in the United States has been biased towards skilled labor.

Description

What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run zero and sign restrictions.

Hours fall in response to skill-biased technology shocks, indicating that part of the technology-induced fall in hours is due to a compositional shift in labor demand. Investment-specific technology shocks reduce the skill premium, indicating that capital and skill are not complementary in aggregate production.<br><br>Data record consists of 80 data files in the following formats: .ado, .csv .eps .gph .m .mat .txt. These require the statistics and econometrics toolbox for matlab in order to run properly.

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The readme file describes the table figures relation to each data file, and how they should be run. Note for some data files the results should be very close but not necessarily identical to the results shown in the paper.

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Economic models and forecasting 77% · Tabular 65%
Provenance · 1 source records, 18 field assertions
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