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Creator: Chari, V. V., Hopenhayn, Hugo Andres., and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 289 关键词: Employees, Unemployment, Workers, Information, and Labor 学科: E24 - Macroeconomics : Consumption, saving, production, employment, and investment - Employment ; Unemployment ; Wages ; Intergenerational income distribution ; Aggregate human capital and J24 - Demand and supply of labor - Human capital ; Skills ; Occupational choice ; Labor productivity -
Creator: Chari, V. V. and Hopenhayn, Hugo Andres. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 375 Abstract: This paper develops a model of vintage human capital in which each technology requires vintage specific skills. We examine the properties of a stationary equilibrium for our economy. The stationary equilibrium is characterized by an endogenous distribution of skilled workers across vintages. The distribution is shown to be single peaked and, under general conditions, there is a lag between the time when a technology appears and the peak of it's usage, a phenomenon known as diffusion. An increase in the rate of exogenous technological change shifts the distribution of human capital to more recent vintages thereby increasing the diffusion rate. 关键词: Workers, Technology, Skills, and Innovation 学科: O41 - One, Two, and Multisector Growth Models, O31 - Technological change ; Research and development - Innovation and invention : Processes and incentives, and J24 - Demand and supply of labor - Human capital ; Skills ; Occupational choice ; Labor productivity -
Creator: Chari, V. V. and Hopenhayn, Hugo Andres. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 327 Abstract: We present a model of vintage human capital. The economy exhibits exogenous deterministic technological change. Technology requires skills that are specific to the vintage. A stationary competitive equilibrium is defined and shown to exist and be unique, as well as Pareto optimal. The stationary equilibrium is characterized by an endogenous distribution of skilled workers across vintages. The distribution is shown to be single peaked and there is diffusion of technology in the sense that there is a lag between the time when a technology appears and the peak of its usage. An increase in the rate of exogenous technological change shifts the distribution of human capital to more recent vintages and increases the relative wage of the unskilled workers in each vintage. 关键词: Workers, Technology, Skills, and Innovation 学科: O41 - One, Two, and Multisector Growth Models, O31 - Technological change ; Research and development - Innovation and invention : Processes and incentives, and J24 - Demand and supply of labor - Human capital ; Skills ; Occupational choice ; Labor productivity -
Creator: Chari, V. V. and Hopenhayn, Hugo Andres. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 375 Abstract: This paper develops a model of vintage human capital in which each technology requires vintage specific skills. We examine the properties of a stationary equilibrium for our economy. The stationary equilibrium is characterized by an endogenous distribution of skilled workers across vintages. The distribution is shown to be single peaked and, under general conditions, there is a lag between the time when a technology appears and the peak of it's usage, a phenomenon known as diffusion. An increase in the rate of exogenous technological change shifts the distribution of human capital to more recent vintages thereby increasing the diffusion rate. 关键词: Workers, Technology, Skills, and Innovation 学科: O41 - One, Two, and Multisector Growth Models, O31 - Technological change ; Research and development - Innovation and invention : Processes and incentives, and J24 - Demand and supply of labor - Human capital ; Skills ; Occupational choice ; Labor productivity -
Creator: Chari, V. V. and Hopenhayn, Hugo Andres. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 327 Abstract: We present a model of vintage human capital. The economy exhibits exogenous deterministic technological change. Technology requires skills that are specific to the vintage. A stationary competitive equilibrium is defined and shown to exist and be unique, as well as Pareto optimal. The stationary equilibrium is characterized by an endogenous distribution of skilled workers across vintages. The distribution is shown to be single peaked and there is diffusion of technology in the sense that there is a lag between the time when a technology appears and the peak of its usage. An increase in the rate of exogenous technological change shifts the distribution of human capital to more recent vintages and increases the relative wage of the unskilled workers in each vintage. 关键词: Workers, Technology, Skills, and Innovation 学科: O41 - One, Two, and Multisector Growth Models, O31 - Technological change ; Research and development - Innovation and invention : Processes and incentives, and J24 - Demand and supply of labor - Human capital ; Skills ; Occupational choice ; Labor productivity