Browsing Departments by Author "Sørensen, Anders"
Now showing items 1-8 of 8
-
Inference from the Business CycleRose Skaksen, Jan; Sørensen, Anders (København, 2004)[More information][Less information]
Abstract: The relative demand for skills has increased considerably in many OECD countries during recent decades. This development is potentially explained by capital-skill complementarity and high growth rates of capital equipment. When production functions are characterized by capital-skill complementarity, relative wages and employment of skilled labor are countercyclical because capital equipment is a quasi- fixed factor in the short run. The exact behavior of the two variables depends on relative wage flexibility. Relative wages are rigid in Denmark, implying that the employment share of skills should be countercyclical. The labor market is competitive in the United States and therefore relative wages of skilled labor are expected to be countercyclical. We find that the business cycle development of the two economies is consistent with capital-skill complementarity. Keywords: capital-skill complementarity, relative wages, business cycle URI: http://hdl.handle.net/10398/7537 Files in this item: 1
wpec102004.pdf (313.9Kb) -
Dalgaard, Carl-Johan; Schultz, Esben Anton; Sørensen, Anders (Frederiksberg, 2012)[More information][Less information]
Abstract: Is the wage gap between majors in human arts and other fields caused by their education per se? If the educational choice is endogenous, the gap may instead be caused by selection. We document that individuals’ educational choice is correlated with that of older students, and argue that it should not influence wages directly. Exploiting this "cohort dependence" as an instrument for educational choice, our 2SLS estimates show that the hourly wage gap is attributable to selection. However, only half of the gap in annual earnings is explained by selection, whereas the other half is due to lower work hours. URI: http://hdl.handle.net/10398/8521 Files in this item: 1
dalgaard_schultz_sorensen_2012.pdf (476.2Kb) -
Junge, Martin; Severgnini, Battista; Sørensen, Anders (Frederiksberg, 2012)[More information][Less information]
Abstract: This paper investigates the importance of the educational mix of employees at the firm level for the probability of firms being involved in innovation activities. We distinguish between four types of innovation: product, process, organisational, and marketing innovation. Moreover, we consider three different types of education for employees with at least 16 years of schooling: technical sciences, social sciences, and humanities. Furthermore, we examine the influence of these different innovation activities on firm productivity. Using a rotating panel data sample of Danish firms, we find that different types of innovations are related to distinct educational types. Moreover, we find that firms that adopt product and marketing innovation are more productive than firms that adopt product innovation but not marketing innovation and firms that adopt marketing innovation but not product innovation. In addition, firms that adopt organisational and process innovation demonstrate greated productivity levels than forms that adopt organisational innovation but not process innovation that again demonstrate greater productivity than firms that do not adopt process innovation but not organisational innovation. Finally, we establish that product and marketing innovation as well as organisational and process innovation are complementary inputs using formal tests for supermodularity. Complementarity can be rejected for all other pairs of innovation types. URI: http://hdl.handle.net/10398/8498 Files in this item: 1
Junge_Severgnini_Sørensen.pdf (517.4Kb) -
Scheuer, Christian; Sørensen, Anders; Rosholm, Michael (København, 2007)[More information][Less information]
Abstract: This paper investigates the impact of globalization, in the sense of increasing international trade, on the demand for skills in Danish manufacturing companies. The study is based on a unique data set that enables us to develop rich measures of international outsourcing and import penetration. Moreover, the data also allows several strategies to strengthen the causal interpretation of our results. The main finding of the analysis is that it is of crucial importance to distinguish imports - both in the form of outsourcing and overall imports - by country-of-origin. We find that international trade with low-wage countries leads to skill-upgrading. This is especially pronounced for import penetration with a ceteris paribus contribution of around fifty percent to skill-upgrading. Moreover, we find that import penetration in goods originating from high-wage countries lead to skill-downgrading. This latter result suggests that Danish manufacturing has comparative advantage in skillintensive production when compared to low-wage countries, but in unskill-intensive production when compared to high-wage countries. Skill-upgrading, Low-wage country outsourcing, Low-wage country import penetration, Comparative advantage URI: http://hdl.handle.net/10398/7625 Files in this item: 1
wp8-2007.pdf (532.1Kb) -
Sørensen, Anders (København, 2006)[More information][Less information]
Abstract: Welfare ranking of policy instruments is addressed in a two-sector Ramsey model with monopoly pricing in one sector as the only distortion. When government spending is restricted, i.e. when a government is unable or unwilling to finance the required costs for implementing the optimum policy, subsidies that directly affect investment incentives may generate higher welfare effects than the direct instrument, which is a production subsidy. The driving mechanism is that an investment subsidy may be more cost effective than the direct instrument; and that the relative welfare gain from cost effectiveness can exceed the welfare loss from introducing new distortions. Moreover, it is found that the investment subsidy is gradually phased out of the welfare maximizing policy, which may be a policy combining the two subsidies, when the level of government spending is increased. Keywords: welfare ranking, indirect and direct policy instruments, restricted government spending JEL: E61, O21, O41 URI: http://hdl.handle.net/10398/7581 Files in this item: 1
wp8-2006.pdf (362.5Kb) -
Junge, Martin; Severgnini, Battista; Sørensen, Anders (Frederiksberg, 2012)[More information][Less information]
Abstract: The role of product and marketing innovation for productivity growth is addressed using survey and register data for the Danish economy. It is argued that marketing and product innovation are complementary inputs and that innovation activities are skill-intensive. It is found that product and marketing innovation in skill-intensive firms results in significantly faster productivity growth than in unskilled-intensive firms that introduce this combination of innovation activities. More precisely, an increase in the share of educated workers of one percentage point, increases productivity growth by around 0.1 percentage point in firms with product and marketing innovation. In addition, it is found that firms that engage in product innovation but not in marketing innovation or the other way around do not demonstrate a growth effect from their innovation activities. It is also found that product and marketing innovation has an independent role in productivity growth that cannot be attributed to organisational changes, even though the majority of innovative firms engage in this latter innovation type. URI: http://hdl.handle.net/10398/8468 Files in this item: 1
JungeSevergniniSoerensen-WP-1-2012.pdf (417.0Kb) -
Sørensen, Anders (København, 2005)[More information][Less information]
Abstract: It may be optimal from a welfare perspective to use R&D subsidies when the source of R&D distortions originates from the surplus appropriability problem and technological spillovers in the form of knowledge spillovers, creative destruction, and duplication externalities are absent. Hence, R&D subsidies may constitute the optimal policy even when subsidies directly targeted on monopoly pricing could be applied. The result holds when dynamic effects are important relative to static effects and when governments spending is restricted. The latter characteristic arises when a government is unable or unwilling to use the level of spending required to implement the optimum policy. The argument is developed in a semi-endogenous growth model where the only distortion is monopoly pricing of intermediate goods. Keywords: R&D, policy instruments, welfare, market power JEL: O38, O41 URI: http://hdl.handle.net/10398/7541 Files in this item: 1
wp17-2005.pdf (332.0Kb) -
Heterogeneity and Non-LinearitiesIversen, Jens; Malchow-Møller, Nikolaj; Sørensen, Anders (Frederiksberg, 2010)[More information][Less information]
Abstract: The returns to education in self-employment are addressed in four different specifications of the relationship between log income and years of schooling. The specifications range from a standard Mincer equation with a constant percentage increase in income to an additional year of schooling to the most flexible specification with dummy variables for the different number of years of schooling split into different types of education. Based on the more flexible specifications, important non-linearities and heterogeneity in the returns to education in self-employment are found. These results are robust across different estimation methods: OLS; Heckit correction models to handle sample selection; and IV to deal with the potential endogeneity of years of schooling. Moreover, the results are insensitive to the use of different sample years, different definitions of self-employment, and different income measures for the self-employed. URI: http://hdl.handle.net/10398/8225 Files in this item: 1
Sorensen_WP_2010.pdf (411.9Kb)
Now showing items 1-8 of 8