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...ast research. This type of knowl-sedge spillover is necessary for growth when technical change uses scarce factors,ssuch as labor or scientists (see, e.g., Romer 1990, Rivera-Batiz and Romer 1991,sor =-=Barro and Sala-i-Martin 1995-=-). In fact, equation (8) is a direct generalizationsof the accumulation equation in the standard endogenous growth model wheres10 Journal of the European Economic Association March 2003 1(1): 1-37swe ...

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...sbenefiting from knowledge spillovers from past research. This type of knowl-sedge spillover is necessary for growth when technical change uses scarce factors,ssuch as labor or scientists (see, e.g., =-=Romer 1990-=-, Rivera-Batiz and Romer 1991,sor Barro and Sala-i-Martin 1995). In fact, equation (8) is a direct generalizationsof the accumulation equation in the standard endogenous growth model wheres10 Journal ...

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...in down the o¤shoring rate () and the skill-bias of technology (Ah=Al). This is summarized in the following proposition. Proposition 2 Suppose > > 1 and < min fLw; ZHwg. Let (f=+ 1)1 2 =-=[0; 1]-=- : Then, there exists a unique BGP in which the o¤shoring rate is = 1 + 1=Lw=Le 1 ; (15) 12 the relative technologies are Ah Al = (ZHw) 1 L̂1+ 1 Lw ; (16) and consumption and ...

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...from knowledge spillovers from past research. This type of knowl-sedge spillover is necessary for growth when technical change uses scarce factors,ssuch as labor or scientists (see, e.g., Romer 1990, =-=Rivera-Batiz and Romer 1991-=-,sor Barro and Sala-i-Martin 1995). In fact, equation (8) is a direct generalizationsof the accumulation equation in the standard endogenous growth model wheres10 Journal of the European Economic Asso...

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... than 1. Estimates implied by the response ofsinvestment to the user cost of capital also typically yield an elasticity of substitution betweenscapital and labor significantly less than 1 (see, e.g., =-=Chirinko 1993-=-, Chirinko, Fazzari, and Mayers1999, 2001, or Mairesse, Hall, and Mulkay 1999).s4 Journal of the European Economic Association March 2003 1(1): 1-37sstarting with Romer's (1986, 1990) and Lucas' (1988...

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... States, average schooling of the workforce increased by about 1 year in everysdecade in the postwar era, which translates roughly to a 6 percent increase in the human capital of thesworkforce (e.g., =-=Acemoglu and Angrist, 2000-=-), compared to an approximately 4 percent per year growthsin the capital stock between 1959 and 1998 (see The Economic Report of the President 1999).s3. For example, Nadiri (1970), Nerlove (1967), and...