Journal ArticleDOI
Knowledge and earnings
TLDR
This paper examined the effects of knowledge about a wide variety of subjects on the wages and salaries of U.S. workers and found that knowledge about topics such as medicine and dentistry, engineering and technology, and production and processing has a positive effect on individual earnings, whereas high knowledge in the areas of food production and personnel and human resources is not rewarded in the labor market.Abstract:
This paper examines the effects of knowledge about a wide variety of subjects on the wages and salaries of U.S. workers. Knowing a lot about topics such as medicine and dentistry, engineering and technology, and production and processing has a positive effect on individual earnings, whereas high knowledge in the areas of food production and personnel and human resources is not rewarded in the labor market. Spillover effects, where the share of metropolitan area employment in high-knowledge occupations enhances earnings, were uncovered primarily in subjects related to producer services and information technology.read more
Citations
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Journal ArticleDOI
The Production and Distribution of Knowledge in the United States.
Edwin Mansfield,Fritz Machlup +1 more
TL;DR: Machlup defined knowledge as "any human (or human-induced) activity designed to create, alter, or confirm in a human mind-one's own or anyone else's-a meaningful apperception, awareness, cognizance, or consciousness of whatever it may be" as discussed by the authors.
The Hidden STEM Economy.
Abstract: ment.” Findings Workers in STEM (science, technology, engineering, and math) fields play a direct role in driving economic growth. Yet, because of how the STEM economy has been defined, policymakers have mainly focused on supporting workers with at least a bachelor’s (BA) degree, overlooking a strong potential workforce of those with less than a BA. An analysis of the occupational requirements for STEM knowledge finds that:
Journal ArticleDOI
Cities, skills and wages
TL;DR: This paper examined the effect of skills in cities on regional wages using cluster analysis to identify three broad skill types (analytical, social intelligence and physical skills) from 87 cities in the US.
Journal ArticleDOI
Human Capital and Economic Activity in Urban America
Jaison R. Abel,Todd Gabe +1 more
TL;DR: The relationship between human capital and economic activity in US metropolitan areas is examined in this paper, extending the literature in two ways: first, new data on metropolitan area gross domestic product are utilized to measure economic activity.
Journal ArticleDOI
The Creative Class and the crisis
TL;DR: The authors found that members of the Creative Class had a lower probability of being unemployed over this period than individuals in the Service and Working Classes and that the impact of having a creative occupation became more beneficial in the 2 years following the recession.
References
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Journal ArticleDOI
Sample Selection Bias as a Specification Error
TL;DR: In this article, the bias that results from using non-randomly selected samples to estimate behavioral relationships as an ordinary specification error or "omitted variables" bias is discussed, and the asymptotic distribution of the estimator is derived.
The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
Journal ArticleDOI
Increasing Returns and Long-Run Growth
TL;DR: In this paper, the authors present a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity, which is essentially a competitive equilibrium model with endogenous technological change.
Journal ArticleDOI
On the mechanics of economic development
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.
Book
Principles of Economics
TL;DR: In this article, the authors present a survey of the general relations of demand, supply, and value in terms of land, labour, capital, and industrial organization, with an emphasis on the fertility of land.