Did capital replace labor? New evidence from offshoring
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Organización Internacional del Trabajo (OIT)
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| Natura: | Artículo científico |
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International Labour Organization
2019
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| _version_ | 1874524792177033216 |
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| author | Paul Moon Sub Choi Kee Beom Kim Jinyoung Seo |
| author_facet | Paul Moon Sub Choi Kee Beom Kim Jinyoung Seo Paul Moon Sub Choi Kee Beom Kim Jinyoung Seo |
| contents | Did capital replace labor? New evidence from offshoring Paul Moon Sub Choi Kee Beom Kim Jinyoung Seo 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, offshoring might reinforce technological changes, a double-edged sword that can boost productivity growth but exacerbate wage inequality. 10.1515/bejm-2018-0079 DOI https://doi.org/10.1515/bejm-2018-0079 publication.journalArticle |
| format | Artículo científico |
| id | ilo_995321993302676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 2019 |
| publisher | International Labour Organization |
| spellingShingle | Did capital replace labor? New evidence from offshoring Paul Moon Sub Choi Kee Beom Kim Jinyoung Seo Did capital replace labor? New evidence from offshoring Paul Moon Sub Choi Kee Beom Kim Jinyoung Seo 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, offshoring might reinforce technological changes, a double-edged sword that can boost productivity growth but exacerbate wage inequality. 10.1515/bejm-2018-0079 DOI https://doi.org/10.1515/bejm-2018-0079 publication.journalArticle |
| title | Did capital replace labor? New evidence from offshoring |
| url | https://researchrepository.ilo.org/esploro/outputs/journalArticle/Did-capital-replace-labor-New-evidence/995321993302676 |