Labor Substitutability among Schooling Groups
研究发现不同教育群体之间的长期劳动力替代弹性下限约为4，远高于文献常用值，并利用该下限重新评估了人力资本在跨国收入差异中的作用。
Given worldwide trends in education, wage premium for schooling, and real GDP, we derive a lower bound for the long-run elasticity of labor substitution across schooling groups of around 4, which is far higher than values commonly used in the literature. We exploit our bound to reexamine the importance of human capital in cross-country income differences, including the roles of school quality versus the skill bias of technology in the greater efficiency gains from schooling in richer countries.