Do recessions accelerate routine-biased technological change? Evidence from vacancy postings

We show that skill requirements in job vacancy postings differentially increased in MSAs that were hit hard by the Great Recession, relative to less hard-hit areas. These increases persist through at least the end of 2015 and are correlated with increases in capital investments, both at the MSA and...

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Vydáno v:	The American economic review Ročník 108; číslo 7; s. 1737 - 1772
Hlavní autoři:	Hershbein, Brad J, Kahn, Lisa B
Médium:	Journal Article
Jazyk:	angličtina
Vydáno:	Nashville American Economic Association 01.07.2018
Témata:	Arbeitsanforderung Arbeitskräftebedarf Arbeitsplatzangebot Auswirkung Ballungsraum Bias Capital Capital investments Careers Great Recession Investments Job vacancies Konjunkturaufschwung Niedrig qualifizierte Arbeit Occupations Qualifikationsanforderung Qualifikationsniveau Qualifikationswandel Recessions Regionale Disparität Regionaler Faktor Rezession Routine Skilled workers Stellenangebot Stellenanzeige Stellenbeschreibung Technological change Technologische Entwicklung USA Wirtschaftskrise
ISSN:	0002-8282, 1944-7981
On-line přístup:	Získat plný text
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Shrnutí:	We show that skill requirements in job vacancy postings differentially increased in MSAs that were hit hard by the Great Recession, relative to less hard-hit areas. These increases persist through at least the end of 2015 and are correlated with increases in capital investments, both at the MSA and firm levels. We also find that effects are most pronounced in routine-cognitive occupations, which exhibit relative wage growth as well. We argue that this evidence is consistent with the restructuring of production toward routine- biased technologies and the more-skilled workers that complement them, and that the Great Recession accelerated this process.
Bibliografie:	ObjectType-Article-1 SourceType-Scholarly Journals-1 ObjectType-Feature-2 content type line 14
ISSN:	0002-8282 1944-7981
DOI:	10.1257/aer.20161570