Comparative Advantage, Relative Wages, and the Accumulation of Human Capital
运用李嘉图比较优势原理，构建包含连续工人和岗位类型的模型，分析人力资本积累如何影响相对工资，并引入复杂度离散参数（压缩弹性），实证表明人力资本存量增加1%会使明瑟收益率下降2%。
I apply Ricardo's principle of comparative advantage to a theory of factor substitutability in a model with a continuum of worker and job types. Highly skilled workers have a comparative advantage in complex jobs. The model satisfies the distance‐dependent elasticity of substitution (DIDES) characteristic: substitutability between types declines with their skill distance. I analyze changes in relative wages due to human capital accumulation. The concept of a complexity dispersion parameter or compression elasticity is introduced. Empirical studies suggest its value to be equal to two: a 1 percent increase in the stock of human capital reduces the Mincerian return by 2 percent.