Full Citation

Title: Specific Capital and Technological Variety

Citation Type: Working Paper

Publication Year: 2008

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Abstract: Growth of technological variety offers more scope for the division of labor. And when a division of labor requires some specific training, the technological specificity of human capital grows, and, with it, probably the firm specificity of that capital grows. We build a simple model that captures this observation. The model implies that a rising specialization of human and physical capital raises the rents in the average match between a firm and its human and physical capital. We document that in the last 40 years the firms share of those rents has also grown, and we use the model to explain why this shift may have taken place.

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Authors: Rousseau, Peter L.; Jovanovic, Boyan

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Publication Number: 13998

Institution: National Bureau of Economic Research

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Data Collections: IPUMS USA, IPUMS CPS

Topics: Labor Force and Occupational Structure, Other

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