Elasticities of Demand for Educated Labor and Elasticities of Supply of Educated Labor / Richard B. Freeman.

Format:

Book

Author/Creator:

Freeman, Richard B.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w1042.

NBER working paper series no. w1042

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1982.

Summary:

This paper reviews a variety of estimates of the demand and supply elasticities of educated labor. It finds that elasticities of substitution between more and less educated labor range fran 1.0 to 2.0 and that elasticities of the supply of students to colleges are also on the order of 1.0 to 2.0 while elasticities of supply to specific professions are on the order of 2.0 to 3.0. With elasticities of this magnitude, wages and employment depend on both supply and demand factors, with shifts of either schedule influencing both market outcome variables.

Notes:

Print version record

December 1982.