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| Author: | Haskel, J. Martin, C. |
| Title: | Technology, wages, and skill shortages: evidence from UK micro data |
| Journal: | Oxford Economic Papers
2001 : OCT, VOL. 53:4, p. 642-658 |
| Index terms: | TECHNOLOGY PAY SKILLS |
| Language: | eng |
| Abstract: | Why have skill shortages continue to persist despite increases in training and the skill levels of the workforce? The authors argue that technical progress has raised the demand for skilled labour to match the observed increase in supply. The authors provide econometric evidence in support of this hypothesis, showing that skill shortages are higher for establishments that use advanced technology in the production process. The authors also provide econometric evidence that hiring difficulties are inversely related to the relative wage, as theory would suggest. The authors' results have clear implications for policy. If technological progress continues to be skill biased, policies that address skills deficiencies will only be successful if they produce a continual, rather than a temporary, increase in levels of skills among the workforce. |
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