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Did capital replace labor? New evidence from offshoring

Title
Did capital replace labor? New evidence from offshoring
Authors
Choi, Paul Moon SubKim, Kee BeomSeo, Jinyoung
Ewha Authors
최문섭
SCOPUS Author ID
최문섭scopus
Issue Date
2019
Journal Title
B E JOURNAL OF MACROECONOMICS
ISSN
1935-1690JCR Link
Citation
B E JOURNAL OF MACROECONOMICS vol. 19, no. 1
Keywords
job polarizationlabor income sharemorishima elasticity of substitutionoffshoringtechnological changes
Publisher
WALTER DE GRUYTER GMBH
Indexed
SSCI; SCOPUS WOS
Document Type
Article
Abstract
Neoclassical theory explains the global decline of the labor income share by capital-labor substitution due to the affordable relative price of capital. Based on the Morishima elasticities of substitution among capital, labor disaggregated into high-, medium-, and low-skill groups, and imported and domestic intermediate inputs, offshoring appears to disproportionately affect job polarization globally and in developed economies. These findings in favor of the globalization hypothesis are buttressed by multivariate panel regressions. Lastly, off-shoring might reinforce technological changes, a double-edged sword that can boost productivity growth but exacerbate wage inequality.
DOI
10.1515/bejm-2018-0079
Appears in Collections:
경영대학 > 경영학전공 > Journal papers
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